Annuity
What will be an ideal response?
Multiyear payment received over a certain amount of time
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In monopolistic competition, firms can make an economic profit in
A) the short run and in the long run. B) the short run but not in the long run. C) the long run but not in the short run. D) neither the long run nor the short run.
According to the Taylor rule, the Fed will set the federal funds rate target based on which of the following?
A) an estimated long-run real interest rate B) the current deviation of the actual inflation rate from the Fed's inflation objective C) the proportionate gap between actual real GDP and a measure of potential real GDP D) all of the above
An argument against the use of tariffs to keep out the production of "cheap" foreign labor is that:
A) wage rates and labor productivity are directly related. B) product prices and labor costs are unrelated. C) there is no significant relationship between labor productivity and wage levels. D) they don't work.
To remedy unfairness in the distribution of income, many Americans look to all of the following except:
A. regressive taxes. B. social welfare programs. C. affirmative action laws. D. comparable worth laws.