How do speculators provide a more rational guide to production and consumption decisions compared to markets?
The price level which results from speculation reflects both the present and the future price of the commodity. It is thus considered a more useful guide to rational consumption and an accurate measure of scarcity.
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The economy pictured in the figure below has a(n) ________ gap with a short-run equilibrium combination of inflation and output indicated by point ________. 
A. recessionary; B B. recessionary; C C. recessionary; A D. expansionary; A
The new Consumer Financial Protection Bureau is an independent agency but is funded and housed within
A) the Treasury Department. B) the Federal Reserve. C) the SEC. D) the IRS.
Explain the time-inconsistency problem. What is the likely outcome of discretionary policy? What are the solutions to the time-inconsistency problem?
What will be an ideal response?
Special-interest programs are highly attractive to vote-seeking politicians because
What will be an ideal response?