If a number equal to the mean (average) of a series of observations is added to the series, the new mean is:
A) greater than the original mean.
B) smaller than the original mean.
C) same as the original mean.
D) either greater or smaller than the original mean depending on the number of observations in the series.
C
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During the great recession, the Chair of the Fed, Ben Bernanke introduced a new, untraditional, Fed tool to help stimulate the economy. What is this tool known as?
A. Quantitative Easing B. Too big to fail C. Bank bailout D. Monetary stimulus
People are willing to invest in human capital because
a. the demand for skilled labor is higher than for unskilled labor. b. it increases the marginal product of their labor. c. firms are willing to pay more for more productive workers. d. All of the above are correct.
If income increases, the budget line:
A. rotates counterclockwise. B. shifts to the right. C. rotates clockwise. D. shifts to the left.
Which view of the macro economy suggests that the speed of adjustment for self-correction would be very quick?
A. Monetarism B. Mainstream economics C. Supply-side economics D. Rational expectations theory