_________ believe that people make well-reasoned and self-interested decisions based upon available information.
Fill in the blank(s) with the appropriate word(s).
The rational expectationists
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When the average propensity to save (APS) is 0.20, then this means
A) people are spending 60 percent of their disposable income and investing the remaining 20 percent. B) people are spending 20 percent of their disposable income. C) people are spending 80 percent of their disposable income. D) people are saving $0.20 of the last dollar earned.
In the above, in which figure(s) is (are) the slope the same at every point?
A) Figure A only B) Figures A and C C) Figure B only D) Figures A, C, and D E) Figures C and D
Staggered, overlapping contracts mean
A) the contract between workers and firms can be opened for renegotiation if other key firms in the industry have signed a new contract within the last ninety days. B) each firm within an industry agrees to negotiate with the union according to a schedule. C) not all labor contracts within the economy expire at the same time. D) different contracts are reached for the different skill classifications of workers within a firm.
Open market operations are
A) the buying and selling of existing U.S. government securities in open private markets by the Fed in order to change the money supply. B) the buying and selling of existing U.S. government securities in open private markets by citizens. C) the selling of new government securities by banks in order to increase the money supply. D) the selling of new government securities in open private markets by banks in order to finance the deficit.