The economic growth rate is measured as the
A) amount of real GDP.
B) annual percentage change of the population.
C) amount of population.
D) annual percentage change of real GDP.
E) annual percentage change of employment.
D
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According to the theory of rational expectations, the "fooling" of workers in Friedman's model
A) is rational, since sudden unforeseeable changes in aggregate demand can and do occur. B) is rational, since workers are always on their labor supply curve. C) is not rational, since workers should learn to immediately link unexpected wage changes to wrongly-forecast price levels. D) is not rational, since workers are often thrown off of their labor supply curve.
Which of the following financial assets has both the highest risk and highest return for the period of 1926-2011?
A) small company stocks B) large company stocks C) corporate bonds D) Treasury bills
Substitutes are pairs of products with
a. positive cross-price elasticity of demand b. negative cross-price elasticity of demand c. positive income elasticity of demand d. negative income elasticity of demand e. positive price elasticity of demand
Consumers must understand the law of diminishing marginal utility in order to maximize their satisfaction
a. True b. False