Suppose the country of Dingo experienced an economic trough in January 2011. We can conclude that
A) real GDP in Dingo was increasing in January 2011.
B) an expansion occurred after January 2011.
C) Dingo did not experience a recession in 2010.
D) Dingo's potential GDP fell in 2011.
B
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The time-inconsistency problem in monetary policy can occur when the central bank conducts policy
A) using a nominal anchor. B) using a strict and inflexible rule. C) on a discretionary, day-by-day basis. D) using a flexible, discretionary rule.
If marginal profit is negative when the firm produces one more unit, then the firm is currently maximizing profits.
Answer the following statement true (T) or false (F)
If you agree to a long-term loan at a specified nominal rate of interest and inflation turns out to be higher than was anticipated,
A) the nominal rate of interest falls. B) the nominal rate of interest rises. C) the real rate of interest falls. D) the real rate of interest rises.
Which of the following must be true in an oligopoly?
a. The firms produce a differentiated product. b. There is one dominant firm in the market. c. The firms are strategically interacting. d. The market is international in scope. e. There are no significant barriers to entry.