Rational expectations theory is the concept that only unanticipated or surprise policies can influence inflation
a. True
b. False
Indicate whether the statement is true or false
True
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Suppose that the quantity of cars demanded exceeds the quantity of cars supplied. We would expect that
A) the price of cars will increase. B) the price of cars will decrease. C) the supply will increase (supply will shift to the right) to meet the demand. D) the demand will decrease (demand will shift to the left) to meet the supply.
A graph showing all the combinations of capital and labor that can be used to produce a given amount of output is a(n)
A. production function. B. isocost line. C. isoquant. D. indifference curve.
If a decrease in the price of movie tickets increases the total revenue of movie theaters, this is evidence that demand is:
a. price elastic. b. perfectly inelastic. c. unit elastic with respect to price. d. price inelastic.
Pooled ordinary least squares estimation is commonly applied to cluster samples when eliminating a cluster effect via fixed effects is infeasible or undesirable.
Answer the following statement true (T) or false (F)