A recession begins in July but government policy makers do not reach a consensus that a recession had in fact begun until October. This is an example of a(n)
A) quick time lag. B) recognition time lag.
C) effect time lag. D) action time lag.
B
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The consumption function will shift with
A) a decrease in real disposable income. B) a change in saving. C) a change in household wealth. D) an increase in real disposable income.
A stockholder's investment is usually riskier than a bondholder's
a. True b. False Indicate whether the statement is true or false
Economists have difficulty applying the scientific method because
What will be an ideal response?
In long-run equilibrium in a monopolistically competitive industry, a firm will
A. have a perfectly elastic demand curve. B. produce at a point to the left of the minimum point on its average total cost curve. C. always earn an economic profit. D. produce an output rate at which P = MC.