Anticipated inflation is associated with cost increases which are fully expected.
Answer the following statement true (T) or false (F)
True
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Increases in real GDP would overstate the increase in the well-being of a country over time if, over that time period, the
A) price level increased. B) amount of pollution decreased. C) crime rate decreased. D) average hours worked per week increased.
The natural rate of unemployment is
A) the unemployment rate when cyclical unemployment is the only type of unemployment. B) the unemployment rate when there is no frictional unemployment. C) the rate of unemployment associated with long-run equilibrium. D) zero.
If the expected profitability of a business activity increased we might expect investment spending to:
A. increase. B. decrease. C. remain constant. D. there is not enough information to determine what would happen.
The relationship between the marginal product of capital (MPK), the product price (P), and marginal revenue product of capital (MRPK) in a perfectly competitive market is
a. MPK = P ? MRPK b. MPK = P + MRPK c. MRPK = P/MPK d. MRPK = P ? MPK e. MRPK = P + MPK