The classical dichotomy says that two groups of variables are affected by different forces. What are these two groups of variables?
nominal variables and real variables
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In a sequential game, one firm will act first and then other firms will respond
Indicate whether the statement is true or false
The above figure shows four different markets with changes in either the supply curve or the demand curve. Which graph best illustrates the market for non-dairy coffee creamer after severe weather destroys a large portion of the coffee crop?
A) Graph A B) Graph B C) Graph C D) Graph D
If the selling price falls and input costs are fixed, profit margins will increase
a. True b. False Indicate whether the statement is true or false
The hypothesis that people's spending decisions are based on all available information, including the anticipated effects of government intervention, is known as
A. Rational responses. B. The velocity of money. C. Rational expectations. D. Fiscal expectations.