If an inflation forecast is based on last year's inflation rate, it is said to be
A) historical.
B) rational.
C) logical.
D) adaptive.
D
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If marginal revenue exceeds marginal cost, profit maximizers should
a. reduce output until they are equal b. increase output until they are equal c. increase output until profits are zero d. decrease output unless profits are zero e. maintain current output
Individual banks always respond quickly and significantly to changes in the discount rate
a. True b. False Indicate whether the statement is true or false
In this graph for the marginal costs and benefits of pollution controls, at output level Q1, pollution control is ______.
a. unnecessary
b. optimized
c. insufficient
d. excessive
The monetarist and the Keynesian approaches are two competing theories of aggregate demand.
Answer the following statement true (T) or false (F)