Fully anticipated monetary policy actions cannot alter either the rate of unemployment or the level of real GDP. This statement is
A. not supported by any economic theory.
B. the Phillips curve.
C. the policy irrelevance proposition.
D. the nonaccelerating inflation rate of unemployment theory.
Answer: C
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During which years did the country have a budget surplus?
A) 2008 and 2009 B) 2012 only C) 2011 only D) 2010 and 2012 E) all except 2011
Which of the following would make a player more inclined to continue into later stages of the Centipede Game rather than ending the game immediately? (Choose all that apply.) a. The subgame-perfect equilibrium is to continue as long as possible because the payoffs eventually get much larger. b. An increase in the chance that your rival has difficulty performing a long chain of deductions
c. An increase in the chance that your rival believes you have difficulty solving a long chain of deductions. d. Altruism toward one's rival.
U.S. Gross National Product includes goods produced by:
A. foreign firms on U.S. soil. B. U.S. firms on foreign soil. C. foreign firms on foreign soil. D. None of these statements is true.
Developing new products and services as well as introducing new production methods are among the ways that ________ increases average labor productivity.
A. an entrepreneur B. physical capital C. human capital D. a manager