More recent studies of new Keynesian inflation dynamics indicated that the average price-adjustment intervals in the United States are
A) are one year or less.
B) two years or less.
C) four years or less.
D) more than four years.
A
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If the donut industry is perfectly competitive and is in long-run equilibrium, then the price of a donut
A) is greater than marginal cost. B) is greater than short-run average cost. C) is greater than long-run average cost. D) equals long-run average cost.
Suppose the consumer price index (CPI) stands at 250 this year. If the inflation rate is 10 percent, then next year's CPI will equal:
a. 250. b. 260. c. 275. d. 500.
Briefly and concisely define the following terms:
a. fiscal federalism b. horizontal equity c. vertical equity d. benefits principle of taxation
How do economists sometimes measure physical capital in a country?
(A) The amount of roads and bridges per capita. (B) The number of computers that are available to businesses. (C) The amount of savings that the citizens have in the bank. (D) The number of telephones it has in relation to its population.