The inside lag is the time between:
A) observing a shock and countering it.
B) taking an action and observing its effect.
C) short-term and long-term goals.
D) taking an action and determining future long-term goals
Answer: A) observing a shock and countering it.
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The curve shown in the figure above is the
A) potential GDP curve. B) Phillips curve. C) aggregate supply curve. D) demand for money curve. E) aggregate demand curve.
What is the relationship among the AD, SRAS and LRAS curves when the economy is in macroeconomic equilibrium?
What will be an ideal response?
Ed Van Zaig is considering opening a sushi bar. To do so, he would have to quit his current job, which pays $20,000 a year, and use a building that he owns and currently rents to his brother for $6,000 a year. His costs at the sushi bar would be $50,000 for food and $2,000 for gas and electricity. What are his explicit costs?
a. $26,000 b. $66,000 c. $78,000 d. $52,000 e. $72,000
Which government policy raises the interest rate and raises investment spending?