Which of the following would be considered a resource cost of inflation?
a. A cost of living adjustment
b. Loss of purchasing power
c. Additional trips to the bank
d. Adjusting nominal interest rate to get real rates
e. Creeping inflation
C
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Using Figure 2 below, suppose that the economy started at PAE2. A potential change that could cause the economy to go from PAE2 to PAE3 might be:
A. wealth level increases.
B. interest rates increase.
C. taxes increase.
D. domestic income increases.
According to the Phillips curve, in the short run, if policymakers choose an expansionary policy to lower the rate of unemployment, the economy will experience an increase in inflation.
Answer the following statement true (T) or false (F)
Assuming that Houston uses a flat fee pricing system for trash services, the equilibrium quantity of MSW services provided is
Use the following forany or all of Questions 11 through 13 below. Consider the following model of the municipal solid waste (MSW) services market in the city of Houston. MSC = 1.5 + 1.25Q MSB = 30 – 2.5Q MEC= 0.75Q MEB= 0 whereQ is the number of trash containers serviced per household per month. a. 12 c. 0 b. 1.2 d. 3
In a regression equation, changing the units of measurement of only the independent variable does not affect the _____.
A. ?dependent variable B. ?slope C. ?intercept D. ?error term