The private sector includes privately owned businesses and for-profit divisions of various governments.
Answer the following statement true (T) or false (F)
False
The private sector includes only privately owned businesses.
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Assume that the dollar price of a U.S. basket is $2 and the Mexican price for a U.S. basket is 40 pesos. On the other hand, the Mexican price for the Mexican basket is 100 pesos
Given this information, the dollar price for the Mexican basket will be: A) $8. B) $12. C) $10. D) $5.
The primary reason why the Fed cannot systematically surprise the public with its monetary policy is
A) the nonneutrality of money. B) the presence of productivity shocks that generate real business cycles independent of the monetary side of the economy. C) the presence of rational expectations among the public. D) the presence of propagation mechanisms within the economy.
A sunk cost is one that
a. changes as the level of output changes in the short run. b. was paid in the past and will not change regardless of the present decision. c. should determine the rational course of action in the future. d. has the most impact on profit-making decisions.
Equilibrium
What will be an ideal response?