Incentives matter
What will be an ideal response?
to all human beings regardless of environment.
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Scott worked in a large foreign country. He retired in 2008 and his pension income is fixed at $1,500 per month. The table above gives the CPI in this country. What is the real monthly value of his pension in the years between 2008 and 2011?
What will be an ideal response?
Explain why (holding interest rates constant), a rise in the expected depreciation in a country's currency leads to depreciation of that currency today
What will be an ideal response?
An increase in the minimum wage will tend to cause which of the following to occur?
A) an increase in the size of the surplus of labor B) a leftward shift in the demand for labor C) a rightward shift in the supply of labor D) a reduction in the unemployment rate
The difference between an inside lag and an outside lag is best described as:
A. an inside lag is the time needed for monetary policy to be effective while an outside lag is the time needed for fiscal policy to be effective. B. an inside lag is usually much longer than an outside lag. C. an inside lag is the time between when a policy change is needed and when the Fed identifies the problem and solution, while an outside lag is the time between a policy decision and its effect on the economy. D. an outside lag is the time between when a policy change is needed and when the Fed identifies the problem and solution, while an inside lag is the time between a policy decision and its effect on the economy.