Rational expectations are more accurate than adaptive expectations, ________
A) on average
B) always
C) because they require less information
D) except when policies have changed
A
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Examining U.S. business cycles over time reveals that they ________
A) occur at regular intervals B) are of uniform duration C) are of similar magnitude D) all of the above E) none of the above
A price ceiling is:
A. a legal maximum price. B. a legal minimum price. C. a legal maximum quantity that can be sold at a particular price. D. a legal minimum quantity that can be sold at a particular price.
John Steinbeck's Cannery Row describes a character who takes his own life because of poor job prospects. If he was an unemployed person who gave up looking for work, he would be considered:
a. chronically unemployed. b. a discouraged worker. c. a member of the labor force. d. frictionally unemployed.
Advertising always results in a more elastic demand curve for the firm's product
a. True b. False