Pick the economic variable that is countercyclical
a. Investment
b. Government transfer payments
c. Prices
d. Consumption
e. Nominal interest rates
.B
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The immediate objective of a nominal anchor is to reduce the variability of ________
A) monetary policy targets B) expected inflation C) aggregate demand D) central bank credibility
Economic growth ________
A) is driven by different elements in different economies B) is driven primarily by digital technology C) is driven primarily by labor growth D) cannot be explained using economic models
What do foregone interest on money invested in a firm, wages paid to production workers, interest paid on bank loans, and the purchase of parts for assembly have in common? a. All are explicit costs
b. All are implicit costs. c. All are opportunity costs. d. None are opportunity costs.
The economist assumes that people act in accordance with the equimarginal principle, because the economist assumes that people are
a. altruistic. b. selfish. c. rational. d. price takers.