The main function of public-sector macroeconomic analysts is to
A. engage in theoretical research.
B. find ways to increase corporate profits.
C. forecast the developments in industries.
D. assist in policymaking.
Answer: D
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Suppose that nominal interest rates double. As a result, the quantity of money doubles as well
Indicate whether the statement is true or false
For each pair of items below determine which product would have the higher price elasticity of demand (in absolute value)
a. Insulin for a diabetic or aspirin for someone suffering a headache. b. A new Whirlpool 27 cu.ft. side-by-side refrigerator or electricity to power your all-electric home. c. A can of Red Bull or soft drinks in general.
In the specific factors model, a country's production function is ________ because of ________
A) a straight line; diminishing marginal returns B) a curved line; diminishing marginal returns C) a straight line; constant marginal returns D) a curved line; constant marginal returns E) a curved line; a limited supply of labor
A property tax is equivalent to a tax on income
a. True b. False