The time it takes for policy makers to be sure of what the data are signaling about the future course of the economy is called
A) the data lag.
B) the recognition lag.
C) the legislative lag.
D) the implementation lag.
E) the effectiveness lag.
B
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The private sector balance is equal to savings ________ investment, and the government sector balance is equal to government expenditure ________ taxes. If there is a deficit in the private sector balance and a deficit in the government sector balance, then there must be a ________ in net exports.
A) plus; plus; surplus B) minus; minus; deficit C) minus; minus; surplus D) plus; plus; deficit E) plus; minus; surplus
Profits that are reinvested in a firm rather than paid to the firm's owners are called
A) dividends. B) retained earnings. C) corporate bonds. D) stock options.
Refer to the payoff matrix below. Which is the equilibrium of the game using the Pareto criterion?
Camp with Us and Happy Campers compete in the market for campers. Each firm must decide each season if they are going to offer special financing or not. The above payoff matrix shows each firm's net economic profit at each pair of strategies.
A) Camp with Us Offer Financing and Happy Campers Do Not Offer Financing
B) Camp with Us Offer Financing and Happy Campers Offer Financing
C) Camp with Us Do Not Offer Financing and Happy Campers Do Not Offer Financing
D) Camp with Us Do Not Offer Financing and Happy Campers Offer Financing
Figure 17-8
Refer to . The horizontal line at the world price of wagons represents the
a.
demand for wagons from the rest of the world.
b.
supply of wagons from the rest of the world.
c.
level of inefficiency in the domestic market caused by trade.
d.
surplus in the domestic wagon market.