In a typical year, how accurate are forecasts of inflation and real GDP?
A. Within 8–10 percentage points
B. Within 2–3 percentage points
C. Within 3/4 of 1 percentage point
D. Within 1/4 of 1 percentage point
Answer: C
You might also like to view...
Suppose that this graph describes the current labor market for high school teachers:
Suppose supply of labor decreases. At the new equilibrium, wages would be ________ and ________ teachers would be hired.
A. lower; fewer B. higher; fewer C. higher; more D. lower; more
The law of diminishing returns
A. is completely invalid. B. states that if units of a resource are added to a fixed proportion of other resources, eventually marginal product will decline. C. states that if any two resources are combined, production will fall. D. states that profit margins decline as output rises.
Refer to the diagram, which pertains to a purely competitive firm. Curve C represents:
A. total revenue and marginal revenue.
B. marginal revenue only.
C. total revenue and average revenue.
D. average revenue and marginal revenue.
The equity capital of a privately owned firm includes:
a. the owner's own dollars put into the firm. b. the cost of raw materials. c. the cost of labor resource used in production. d. economic rent only. e. the value added at each stage of production.