Fixed costs and overhead are identical

Indicate whether the statement is true or false


False

Economics

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If M increases faster than V decreases: a. nominal GDP increases

b. nominal GDP decreases. c. nominal GDP stays the same. d. there is an indeterminate effect on nominal GDP.

Economics

When the Census Bureau counts the number of poor Americans, it counts

A. Only money income. B. Personal income plus transfer payments. C. Only in-kind income. D. Both in-kind and money income.

Economics

The hypothesis of rational expectations contends that individuals

A. combine the effects of past policy changes on important economic variables with their own judgment about the future effects of current and future policy changes. B. only make rational errors. C. adapt slowly to the rate of inflation. D. do not make systematic errors.

Economics

Suppose that only 2 percent of all people are geniuses. If an IQ test indicates that Albert is a genius, but the test is only accurate 90 percent of the time, then the probability that Albert really is a genius is roughly:

A. 18 percent. B. 16 percent C. 10 percent. D. 2 percent.

Economics