The consumer confidence index can be defined as:
a. an economic index that measures how consumers feel about their government.
b. an economic index that measures how confident companies are about keeping their current consumers.
c. an economic index that measures household expectations about the economy.
d. an economic index that measures how investors feel about their investments in the stock market.
e. an economic index used to measure consumers' confidence on a particular brand.
c
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Monetarists believe that the quantity of money should be increased at an increasing rate
Indicate whether the statement is true or false
Externalities are consequences visited upon those individuals residing outside decision processes
Indicate whether the statement is true or false
Suppose that a firm has only one variable input, labor, and firm output is zero when labor is zero. When the firm hires 6 workers the firm produces 90 units of output. Fixed costs of production are $6 and the variable cost per unit of labor is $10 . The marginal product of the seventh unit of labor is 4 . Given this information, what is the average total cost of production when the firm hires 7
workers? a. $10.06 b. $9.64 c. 81 cents d. 70 cents
Part of the lag in monetary policy effects is due to
a. the long political process of monetary policy decisions. b. precise economic forecasts. c. the time required for firms and households to alter their spending plans. d. changes in the unemployment rate.