Proponents of rational expectations argue that failing to account for peoples' revised inflation expectations led to estimates of the sacrifice ratio that were too high
a. True
b. False
Indicate whether the statement is true or false
True
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If Country A opens up their corn market to trade with the rest of the world and the global price of corn is lower than the equilibrium price of corn in Country A, then Country A will ________ corn, which will ________ consumer surplus, ________
producer surplus, and ________ total surplus. A) import; increase; decrease; increase B) import; decrease; increase; increase C) export; increase; decrease; increase D) export; decrease; increase; increase E) export; decrease; increase; decrease
In explaining their relative income status, either poor families don't work enough, or are paid too little
Indicate whether the statement is true or false
The United Auto Workers is an example of
A) a public-sector union. B) a craft union. C) an industrial union. D) a socialist union.
If the supply curve of labor shifts to the left, we know for certain that
a. technology has improved b. a higher wage rate must be offered to employ the same number of workers that were employed before the shift in the curve occurred c. any quantity of workers can be hired at the same wage d. the MRP has decreased e. the MRP has increased