Behavioral economists believe that people should smoke as many cigarettes as they want.
Answer the following statement true (T) or false (F)
False
Behavioral economists believe that people have the right to smoke but suggest that this decision may not be optimal for the individual or for society.
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Present two arguments as to why the Fed should adopt inflation targeting as a framework for monetary policy
What will be an ideal response?
The LM curve becomes steeper if there is __________ in the interest-sensitivity of __________ demand
A) an increase; money B) an increase; investment C) a decrease; money D) a decrease; investment
The danger in using data to estimate the consequences of a proposed policy is that ________
A) the data can reveal only the benefits of a policy, while estimating the policy's costs is important, also B) policies change so often that data can never reveal which policies are the cause of which consequences C) the public's expectations about the policy might influence the data, making the policy seem more or less appropriate than is actually the case D) the proposed policy, if implemented, might cause unforeseeable changes in the relationships that were in operation when the data were produced
Suppose that the Consumer Price Index increased from 100 to 120 between 2011 and 2012. Your nominal wages rose during the same period from $200 a week to $260. By how much did your real income rise?
a. 30 percent b. 16.7 percent c. 8.33 percent d. 12 percent