Rational Expectations Theory attributes the ineffectiveness of government inflation policy to an inability to adequately account for people being able to anticipate policy actions and consequences
Indicate whether the statement is true or false
T
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Frank owns an apple farm and plans to spend 4 hours today picking apples. The number of apples he can pick per hour depends on the total number of hours he spends working in either the east orchard or the west orchard in the manner shown in the accompanying table below.Hours in East OrchardNumber of Apples Per HourHours in West OrchardNumber of Apples Per Hour140110232210325310420410 If Frank spends 2 hours picking apples in the east orchard and 2 hours picking apples in the west orchard, how many apples in total will Frank be able to pick today?
A. 21 B. 42 C. 92 D. 84
The marginal cost curve intersects the average variable cost curve at the _______ value of the average variable cost curve.
A) maximum B) minimum C) zero D) average
Assume that A and B are both priced at $1 per unit and that Mary has $10 to spend on A and B. She buys 6 units of A and 4 units of B. The marginal utility of the final unit of A bought is 12 and that of B is 8. This indicates that:
A. Mary's consumption is in equilibrium B. Given another dollar, Mary should buy an additional unit of B C. In order to maximize utility, Mary should buy more of B and less of A D. In order to maximize utility, Mary should buy more of A and less of B
Which of the following is a key factor that encouraged companies to focus on total quality management in the mid-1980s?
A. A fall in the cost of labor B. Expansion of worldwide competition C. Enforcement of property rights D. An increase in the supply of skilled labor force