With imperfect information, prices
A. are the only mechanism to judge efficiency.
B. are always above equilibrium.
C. may no longer reflect individual preferences.
D. are irrelevant in the marketplace.
Answer: C
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In the long run, there is
A) a tradeoff between unemployment and inflation. B) a tradeoff between unemployment and natural unemployment. C) a tradeoff between unemployment and real GDP. D) no tradeoff between unemployment and inflation. E) no tradeoff between fiscal policy and monetary policy.
What is intertemporal comparative advantage?
What will be an ideal response?
The catch-up effect refers to the idea that poor countries, despite their best efforts, are not likely ever to experience the economic growth rates of wealthier countries
a. True b. False Indicate whether the statement is true or false
In the United States, currency holdings per person average about
a. $110; one explanation for this relatively small average is that many people use credit and debit cards to make transactions. b. $110; one explanation for this relatively small average is that U.S. citizens hold a lot of foreign currency. c. $4,490; one explanation for this relatively large amount is that criminals probably prefer currency as a medium of exchange. d. $4,490; one explanation for this relatively large average is that U.S. citizens hold a lot of foreign currency.