Nudges can be used by:
A. firms only.
B. government only.
C. firms and government.
D. firms, but only as a last resort.
Answer: C
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According to real business cycle theory, business cycles
a. can be eliminated with appropriate monetary and fiscal policy. b. are natural and efficient reactions to changes in productivity. c. do not occur. d. occur infrequently. e. none of the above.
If the CPI was 125 this year and 120 last year, then
a. the cost of the CPI basket of goods and services increased by 4.2 percent this year. b. the price level increased by 4.2 percent this year. c. the inflation rate for this year was 4.2 percent. d. All of the above are correct.
When an economy experiences deflation, consumption will:
A. decrease, because people will want to wait for prices to drop before spending. B. decrease, because people will lose value in their savings. C. increase, because people will lose value in their savings. D. increase, because people will want to wait for prices to drop before spending.
Refer to Exhibit 2-7. Point F is
 ANSWER 2.png)