The inside lags for monetary policy are relatively long compared to those for fiscal policy
Indicate whether the statement is true or false
FALSE
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Costs paid in money to hire a resource is
A) normal profit. B) an implicit cost. C) an explicit cost. D) an alternative-use cost. E) economic profit.
If the marginal revenue of the next unit a firm produces is $50 and its marginal cost is $35, a firm should:
A. increase production. B. reconsider past production decisions. C. decrease production. D. hold production constant.
Which of the following is NOT a negative externality?
A. E-mail "spam" consisting of advertisements for goods and services B. Low-flying aircraft creating noise over an otherwise quiet neighborhood C. A household pet leaving waste on a public sidewalk D. A homeowner failing to remove trash from his yard, leaving it as an unsightly eyesore in the neighborhood
Prices are sticky as a result of
A. market competition. B. rational inattention. C. rational expectations. D. frequent information updates.