If a forecast made using all available information is NOT perfectly accurate, then it is

A) still a rational expectation.
B) not a rational expectation.
C) an adaptive expectation.
D) a second-best expectation.


A

Economics

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Costs that have already been incurred, and which cannot be recovered, are known as

A) short-run fixed costs. B) unavoidable costs. C) sunk costs. D) implicit costs.

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The transactions demand for money is related to money's job as a _________.

Fill in the blank(s) with the appropriate word(s).

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Which point on the graph below represents an inefficient use of society's resources?

What will be an ideal response?

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A rightward shift of the supply curve is called a(n)

a) increase in supply b) decrease in supply c) decrease in quantity supplied d) increase in quantity supplied

Economics