An economic forecast will always yield an accurate forecast
Indicate whether the statement is true or false
F
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Which of the following would most likely increase the price of chicken, a normal good?
a. a reduction in the price of grains used to produce chicken feed b. a reduction in the price of beef, a substitute for chicken c. unusually hot weather that kills millions of chickens before they are ready for market d. a decrease in consumer income
____ is a school of economic thought that uses equation of exchange to analyze the macroeconomic data.
A. Mercantilism B. Monetarism C. Supply side economics D. Keynesianism
The goal of macroeconomics is to explain the economic changes that affect many households, firms, and markets simultaneously
a. True b. False Indicate whether the statement is true or false
Suppose that Abdul opens a coffee shop. He receives a loan from a bank for $100,000 . He withdraws $50,000 from his personal savings account. The interest rate on the loan is 8%, and the interest rate on his savings account is 2%. Abdul's annual explicit cost of capital is
a. $8,000. b. $4,000. c. $2,000. d. $1,000.