The best example of a standardized good would be:
A. corn.
B. a handbag.
C. an autographed baseball.
D. breakfast cereal
A. corn.
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Endogenous variables
A) are correlated with the error term. B) always appear on the LHS of regression functions. C) cannot be regressors. D) are uncorrelated with the error term.
Higher rates of anticipated inflation would tend to:
a. increase velocity and decrease nominal GDP. b. increase velocity and increase nominal GDP. c. decrease velocity and decrease nominal GDP. d. decrease velocity and increase nominal GDP.
There is a rise in labor productivity in the economy. As a result, in the short run Real GDP __________ and the price level __________
A) rises; falls B) falls; rises C) falls; falls D) rises; rises E) remains constant; remains constant
Because everybody lives under uncertainty, everybody is
A) less than perfectly informed. B) ignorant of something. C) a speculator. D) all of the above. E) none of the above.