Which of the following individuals first discovered the relationship between unemployment and inflation for the United States?
A) Solow and Friedman
B) Samuelson and Solow
C) Friedman and Phillips
D) Friedman and Phelps
B
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In the housing market, if a rent ceiling of $600.00 is imposed when the equilibrium rent is $500.00, why will nothing change?
What will be an ideal response?
Which of the following statements is true?
A) It is easier for a person to optimize when he has less information. B) Optimization implies choosing the best option from a set of alternatives. C) People always successfully optimize given the limited information they have. D) Optimization is an easy process, and all economic agents are perfect optimizers.
In which of the following ways does government affect the consumption component of planned aggregate expenditures?
a. Through net taxes, which change disposable income b. By purchasing goods and services, which increase consumption c. By using subsidies to encourage firms to invest d. By reducing the interest rate to encourage firms to invest e. By producing public goods
In an open economy, how many bikes will this country export?
A. 20,000 B. 60,000 C. 80,000 D. 50,000