Rational expectations are based on the past alone, while adaptive expectations are based on the past, the present, and the future
Indicate whether the statement is true or false
False
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The return to owners for innovation and risk taking is a firm's
a. economic profit after taxes b. total revenue c. total opportunity cost d. total implicit cost e. money profit after taxes
________ can change a resource's marginal product
a. A change in demand for the final product b. A change in the supply of the final product c. A change in the technology used in production d. A change in the price of the final product
The U.S. Treasury estimates that between _______ and _______ of the U.S. currency is held outside the United States.
Fill in the blank(s) with the appropriate word(s).
Actions on the part of monetary and fiscal policymakers that are undertaken in response to some change in the overall economy are known as
A. active policymaking. B. nondiscretionary policymaking. C. creative policymaking. D. passive policymaking.