If you consume goods and services whose prices are rising faster than inflation, compared to the average person, you are...
What will be an ideal response?
relatively worse off
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According to the rational expectations theory, expansionary monetary policy is fully effective only if
a. the policy is anticipated by workers and firms. b. aggregate supply shifts to the left. c. the economy is operating at or above its potential output level. d. policy makers follow through on their previously announced plans. e. the effects of the policy are unexpected.
one of the four main categories of spending identified by John Maynard Keynes is consumption
a. true b. false
Exhibit 10-4 Supply and demand curves for food servers
?
In Exhibit 10-4, the equilibrium wage and the number of food servers employed per day, respectively, are:
A. $2.00 and 5,000. B. $4.00 and 10,000. C. $6.00 and 15,000 D. $8.00 and 20,000.
The services of farmers are an example of:
A. capital. B. a natural resource. C. labor. D. entrepreneurship.