Critics of Fed independence argue that
A. monetary policy and fiscal policy are necessarily inconsistent.
B. political control ensures low rates of inflation.
C. monetary policy run by specialists is inherently inflationary.
D. unelected officials are undemocratic.
Answer: D
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Refer to Scenario 14.1. Marco and Lisette decide to help each other out and agree to split any medical bills from their doctor. With this new arrangement, this scenario resembles a
A) chicken game. B) assurance game. C) battle of the sexes game. D) prisoner's dilemma game.
Which is NOT true about the coefficient of determination?
a. As you add more variables, the R-square generally rises. b. As you add more variables, the adjusted R-square can fall. c. If the R-square is above 50%, the regression is considered significant. d. The R-square gives the percent of the variation in the dependent variable that is explained by the independent variables. e. The higher is the R-square, the better is the fit.
Which of the following statements is true?
a. The money price is usually the same as the time price for most consumers. b. The money price of a good is always greater than the time price. c. The money price is always greater for high-wage earners than for low-wage earners. d. The time price is usually less for low-wage earners than for high-wage earners. e. The time price of a good is directly proportional to the money price.
In the case of team decision making, the size of the team is optimal when
A. there are five members in the team. B. the additional cost of adding a new member equals the incremental benefits. C. the number of team members exceeds 10. D. the additional cost of adding a new member is less than the incremental benefits.