The natural rate of interest is a __________ rate that __________ inflationary expectations
A) nominal; includes
B) nominal; excludes
C) real; includes
D) real; excludes
D
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The figure above shows Diane's demand curve for soda. The price of a soda is $1.00. Diane's consumer surplus from her 10th soda is
A) $0.00. B) $0.50. C) $1.00. D) $1.50. E) $2.50.
If Joe buys a coffee at Starbucks, his money serves as a
A) unit of accounting. B) standard of deferred payment. C) store of value. D) medium of exchange.
(Consider This) Government passes a law requiring all domestic clothing factories to pay workers at least $20 per hour. As a result, domestic clothing companies move their operations overseas, leaving domestic workers unemployed. This situation
illustrates the problem of: A. political corruption. B. unintended consequences. C. misdirection of stabilization policy. D. principal-agent.
Which of the following statements concerning the prisoner's dilemma is TRUE?
A) The player who moves last will always win. B) Confessing is the dominant strategy for both players. C) Neither player will pick the dominant strategy. D) The player who moves first will always win.