A tendency towards disorder or randomness is called:
a. Homeostasis
b. Cybernetics
c. Entropy
d. Multifinality
C
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If higher inflation ensues from a temporary negative supply shock, and in response, the central bank raises interest rates, then ________
A) it is likely adopting a policy to stabilize inflation in the short run B) short-run inflation will fluctuate around (first go higher then go lower than) the long run level of inflation C) it will need to lower interest rates back to their original values to ensure that inflation returns to its original rate D) all of the above E) none of the above
Policymakers should be aggressive in using their powers to place limits on firm behavior, because business practices that appear to reduce competition never have any legitimate purposes
a. True b. False Indicate whether the statement is true or false
Why are net exports and net capital outflow always equal?
Dollar bills, rare paintings, and emerald necklaces are all
a. media of exchange. b. units of account. c. stores of value. d. All of the above are correct.