Time inconsistency will cause the
a. short-run Phillips curve to be higher than otherwise.
b. short-run Phillips curve to be lower the otherwise.
c. long-run Phillips curve to be farther to the right than otherwise.
d. long-run Phillips curve to be farther left than otherwise.
a
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If inflation is 10% and the nominal interest rate equals 16.6% the real interest rate is equal to
A) 6.6%. B) 6%. C) -6.6%. D) zero.
An unmarried couple holding joint title to their condominium constitutes a household
a. True b. False Indicate whether the statement is true or false
When employers pay an efficiency wage above the market equilibrium wage, this will likely result in
a. a surplus of labor. b. no unemployment. c. an increase in the number of people employed. d. an decrease in the quantity of labor supplied.
Which statement is true?
A. Only monopolists can truly engage in price discrimination. B. Price discrimination violates our basic constitutional rights. C. Price discrimination occurs when a seller charges two or more prices for different goods or services. D. The firm that practices price discrimination needs to be able to distinguish between two or more separate groups of buyers.