If an inflation forecast is based on expected monetary growth, it is likely to be
A) historical.
B) rational.
C) logical.
D) adaptive.
B
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The phenomenon whereby labor decreases in response to a decrease in the wage rate is called
a. the substitution effect. b. the scale effect. c. derived demand from a change in wage. d. the factor regressivity of labor.
The most important determinant of a nation's rate of economic growth may be ____.
Fill in the blank(s) with the appropriate word(s).
Suppose the first hour of study today will allow you to answer 10 correct questions in tomorrow's exam. After the first hour, the marginal benefit of each additional hour of study is reduced by 2 (meaning if you study 2 hours today your total number of correct responses tomorrow will be 18 and if you study 3 hours it will be 24 and so on). If the costs of studying each additional hour are zero, how many hours you should study?
A. 0 B. 6 C. 10 D. 18
If the value of the dollar is falling, then it follows that:
A. real incomes are falling. B. the price index is rising. C. interest rates are rising. D. the price index is falling.