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.
Economics
The transactions demand for money is related to money's job as a _________.
Fill in the blank(s) with the appropriate word(s).
Economics
Which point on the graph below represents an inefficient use of society's resources?
What will be an ideal response?
Economics
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