Pre-commitment is:
A. a solution for dynamic inconsistency.
B. a choice that increases the number of future options.
C. a way to force "bad" choices by removing future good options.
D. All of these are true about pre-commitment.
A. a solution for dynamic inconsistency.
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If you were a Keynesian economist, you would believe that the economy
a. will always move toward full-employment real GDP b. has a tendency to generate inflation regardless of whether it's at full employment real GDP or not c. will decrease unemployment by lowering wage rates until the labor market is in equilibrium d. is driven by the supply-side of the market e. may be in equilibrium at less than full employment
Examples of employment discrimination would include
A. the legendary Negro league pitcher Satchel Paige who was not allowed to pitch in the major leagues until he was in his late 40s. B. the large majority of women in the 1950s and 1960s who were typists or secretaries. C. the attitude that typing, filing and other clerical positions were "women's work". D. all of the examples are true.
The present position of a nation on its production possibilities curve will influence the future position of the production possibilities curve.
a. true b. false
As you move down the production possibility frontier, the absolute value of the marginal rate of transformation
A. increases. B. initially decreases, then increases. C. decreases. D. initially increases, then decreases.