China has few state-owned enterprises left in its economy
Indicate whether the statement is true or false
FALSE
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Which of the following is an example of a worker experiencing cyclical unemployment?
A) an assembly line worker who loses his job because of automation B) a worker who quits his job because he does not get along with his boss C) a worker who changes jobs to move closer her family D) a lifeguard who was hired during the summer season is laid off after summer is over E) a freightliner employee that got laid off because of the recession of 2007-2009
Cheap talk
A) is never credible. B) is illegal. C) generally affects the game's payoffs. D) can be credible when both firms have an incentive to be truthful.
Consider estimating a consumption function from a large cross-section sample of households. Assume that households at lower income levels do not have as much discretion for consumption variation as households with high income levels
After all, if you live below the poverty line, then almost all of your income is spent on necessities, and there is little room to save. On the other hand, if your annual income was $1 million, you could save quite a bit if you were a frugal person, or spend it all, if you prefer. Sketch what the scatterplot between consumption and income would look like in such a situation. What functional form do you think could approximate the conditional variance var(ui Inome)? What will be an ideal response?
In the long run, monetary policy can
a. change the form of inflation b. change the type of unemployment c. change the level of unemployment d. stop the flow of currency abroad e. change the rate of inflation