According to the policy irrelevance proposition, monetary policy can affect real variables
A) in the short run only, and then only if the policy was fully anticipated.
B) in both the short run and the long run.
C) in the short run only, and then only if the policy was unanticipated.
D) in the long run only.
C
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The cost-output elasticity is used to measure:
A) economies of scope. B) economies of scale. C) the curvature in the fixed cost curve. D) steepness of the production function.
An expansionary monetary policy is always capable of boosting aggregate investment
a. True b. False Indicate whether the statement is true or false
Means-tested welfare benefits provide recipients with a strong incentive to:
A. work. B. leave welfare. C. accurately disclose their earnings. D. underreport their earnings.
If we consider one Gini coefficient for the entire population of the world, this coefficient has probably ________ in the last two decades.
A. increased B. fallen to zero C. remained unchanged D. decreased