Which of the following macroeconomic variables would you exclude from an index of leading economic indicators?
A. Inventory investment
B. Money supply
C. Industrial production
D. Residential investment
Answer: C
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When there is an expansionary gap, inflation will ________, in response to which the Federal Reserve will ________ real interest rates, and output will ________.
A. decline; lower; expand B. increase; raise; decline C. decline; lower; decline D. decline; raise; decline
A technological advance that increases the marginal product of labor will
A. decrease the demand for labor. B. increase the supply for labor. C. decrease the supply for labor. D. increase the demand for labor.
"The typical age-earning cycle provides evidence of economic discrimination by age." Do you agree or disagree? Why?
What will be an ideal response?
Which of the following is true of a Nash equilibrium?
A) A game can have only one Nash equilibrium. B) No player can improve his payoff by changing his strategy once in Nash equilibrium. C) A Nash equilibrium cannot occur if each player is aware of the strategies of other players. D) A Nash equilibrium occurs if each player earns a zero payoff irrespective of the strategy he chooses.