Which of the following both make the sacrifice ratio higher than otherwise?
a. the Phillips curve is steep, inflation expectations adjust quickly.
b. the Phillips curve is steep, inflation expectations adjust slowly.
c. the Phillips curve is flat, inflation expectations adjust quickly
d. the Phillips curve is flat, inflation expectations adjust slowly.
d
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For country A, an import is a good produced in
A) country A and purchased by residents of country B. B) country A and purchased by residents of country A. C) country B and purchased by residents of country A. D) country B and purchased by residents of country B.
Which of the following is classified as a final good or service?
i. tires bought by GM to put on new Tahoes ii. mustard bought by Subway to put on its sub sandwiches iii. your purchase of online access to the Wall Street Journal A) iii only B) i and ii C) i, ii and iii D) ii only E) ii and iii
Differences in time preferences depend on
A. social preference. B. differences in the relative size of expected future incomes. C. the time. D. uncertainty regarding the future.
If demand curve D2 represents a monopolistic competitor and demand curve D1 represents a perfect competitor, then
A. the perfect competitor has a more elastic demand curve than the monopolistic competitor.
B. the monopolistic competitor has a more elastic demand curve than the perfect competitor.
C. the perfect competitor and the monopolistic competitor have identical elasticity in their demand curves.
D. None of these choices are true.