Refer to the figure above. What is the domestic demand for calculators in Barylia, once the economy opens up to free trade?
A) 20 units
B) 50 units
C) 60 units
D) 100 units
A
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When market participants have adaptive expectations
A) they use all information available to them. B) they only slowly adjust their expectations to news which could affect prices or returns. C) they are more likely to make accurate forecasts than if they have rational expectations. D) they are able to forecast interest rates more accurately than inflation rates.
If the rate of job separation equals 2%, and the natural rate of unemployment is 10%, then the rate of job finding equals
A) 5%. B) 16.7%. C) 18%. D) 20%.
A major element of the concepts of inflation and deflation is
A) the idea that price changes are measured daily. B) their dependence on average rather than individual prices. C) the requirement that ALL prices must be moving in the same direction. D) each household's willingness to report what they pay for goods and services each month.
The distinction between exogenous and endogenous variables is important because:
a. Endogenous variables are real factors while exogenous variables are nominal factors. b. Endogenous variables are fixed by definition. c. Exogenous variables are fixed by definition. d. Endogenous variables are determined within the Three-Sector-Model while exogenous variables are not. Endogenous variables are therefore treated as shocks to the Three-Sector-Model. e. Endogenous variables are determined within the Three-Sector-Model while exogenous variables are not. Exogenous variables are therefore treated as shocks to the Three-Sector-Model.