In most rich countries, adult citizens typically have a
A. primary education.
B. secondary education.
C. higher education.
D. graduate-level education.
Answer: B
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A smart card is the equivalent of
A) cash. B) savings bonds. C) savings deposits. D) certificates of deposit.
Why don't consumers work in the two-period model?
A) It's a convenient simplification. B) It would make no difference to the model if consumers could work. C) People who participate in real-world credit markets do not work. D) We don't know how to include workers in the model.
If you were a rational expectations economist, you would argue that the goal for economic policy is to
a. discover the NAIRU and make sure the actual rate of unemployment doesn't fallbelow it b. discover a way to lower unemployment to two percent without inflation c. keep the inflation rate below 10 percent d. maintain inflation at 3 percent and unemployment at 4 percent e. maintain unemployment at 3 percent and inflation at 4 percent
A theory is
A) built on the major factors or variables that the theorist believes explain some event. B) a simplified abstract representation of the real world. C) used to understand the real world. D) a and b E) a, b, and c