When people make choices they typically know with certainty which choice is best
a. True
b. False
Indicate whether the statement is true or false
False
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The field of macroeconomics developed when economists looked for causes of:
A. the wealth of nations. B. the Great Depression C. poverty and inflation. D. World War I.
The real wage rate measures the quantity of goods and services an hour's work will buy
Indicate whether the statement is true or false
In a macroeconomic model designed to explain why some countries grow faster than others, which of these variables is likely to be endogenous?
A) investment B) economic policies C) geographic size D) population E) none of the above
Rapid increases in military spending by the federal government without accompanying increases in real output could be a cause of cost-push inflation
a. True b. False Indicate whether the statement is true or false