According to the adaptive expectations theory, people form their expectations of the future on the basis of future expectations
a. True
b. False
Indicate whether the statement is true or false
False
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Suppose the annual growth rate of real GDP for the nation of Svengali is 5% and the growth rate of velocity is 0%. If the money supply growth rate decreases from 4% to 2%, what is the new rate of inflation in Svengali?
A) -3%. B) -1%. C) 3%. D) 7%.
A monopoly's output decision depends only on the shape of its marginal cost curve
Indicate whether the statement is true or false
Given that the firm wants to sell both the versions, how much surplus does buying the no-name brand give the professional chefs?
a. $30 b. $40 c. $50 d. $60
The prisoner's dilemma is a game of strategy:
A. in which people make rational choices that lead to a less-than-ideal result for all. B. in which people make rational choices that lead to the ideal result for all. C. that leads everyone to be as well off as possible without making another worse off. D. that leads people to make irrational choices that lead to the ideal result for all.