The economist who won the Nobel Prize in Economics in 1995, and whose name is closely connected with rational expectations theory, is
A) Robert Solow.
B) Paul Samuelson.
C) Milton Friedman.
D) Robert Lucas.
E) John Maynard Keynes.
D
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The indifference principle states that
a. If an asset is mobile, then in the long run, it will be indifferent about where it is used b. In the long run, a mobile asset will make the same profit, no matter where it goes c. If an asset is mobile, then in the long run, it would stay with the first user d. Only A&B
The poverty line is based on the percentage of people who cannot afford an adequate diet
a. True b. False Indicate whether the statement is true or false
Changes in relative prices may occur
A. Only in periods of stable prices. B. In periods of stable prices or in periods of inflation or deflation. C. Only in periods of inflation or deflation. D. In none of the other choices.
If investment increases by $10 billion and the economy's MPC is .8, the aggregate demand curve will shift:
A. leftward by $50 billion at each price level. B. rightward by $10 billion at each price level. C. rightward by $50 billion at each price level. D. leftward by $40 billion at each price level.