If the Fed chose to change its policy actions implemented during the heart of the recession faster than the timing suggested by the White House, this would be an indication of the Fed's
A) independence. B) frictional relationship with the White House.
C) changing its monetary policy target. D) lack of credibility.
A
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A perfectly competitive firm's short-run supply curve is
A) its marginal cost curve above the shutdown point. B) its average total cost curve above the minimum of the average variable cost. C) its average variable cost curve above the breakeven point. D) horizontal at the market price.
The difference in the prices of a good in two countries creates opportunities for arbitrage: traders buy the good at a low price in one country and sell it at a higher price in the other. When the difference in the prices vanishes, and the world price is established in both countries, there is no scope for trade anymore because no trader will be willing to buy the good in one country and sell it in another. Discuss the validity of this statement.
What will be an ideal response?
The slowdown in the growth of real wages in the United States since 1973 is consistent with a concurrent:
A. slowdown in productivity gains. B. slowdown in the growth of the working age population. C. speedup in the rate of inflation. D. slowdown in immigration into the country.
Refer to the scenario above. Charles will receive a payoff of ________ if Beth trusts him and he defects
A) $50 B) $0 C) $20 D) $10