Extrapolating past values of a variable to the present is the practice of __________ expectations, which is fairly common among __________ economists
A) adaptive; New Classical
B) adaptive; Keynesian
C) rational; New Classical
D) rational; Keynesian
B
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In the single-period principal-agent model:
A. the employer is risk-neutral but the employee is risk-averse. B. both the employer and the employee are risk-neutral. C. both the employer and the employee are risk-averse. D. the employer is risk-averse but the employee is risk-neutral.
According to the equation of exchange, nominal Gross Domestic Product (GDP) equals
A. the price level times the income velocity of money. B. the amount of actual money balances divided by the income velocity of money. C. the amount of actual money balances times the income velocity of money. D. the price level divided by the income velocity of money.
When attempting price regulation, a government faces what problem(s)?
A) limited information B) bribes C) uncooperative firms D) All of the above.
Refer to the information provided in Table 24.1 below to answer the question(s) that follow.Table 24.1
Refer to Table 24.1. At an output level of $2,000 billion, the value of saving
A. cannot be determined from the given information. B. is $300 billion. C. is $200 billion. D. is $100 billion.