When all relevant information is used to forecast inflation, the resulting forecast is called
A) a rational expectation.
B) a natural expectation.
C) an expected forecast.
D) an expansionary expectation.
E) the expected expectation.
A
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As a result of a decline in interest rates and a rise in household income, the demand curve for housing has shifted to the right, but has retained the same slope. Consequently, the elasticity of demand for housing
A. has declined. B. has increased. C. has remained unchanged. D. cannot be compared.
Fiscal Policy
What will be an ideal response?
The Federal Open Market Committee consists of
A) the seven member Board of Governors of the Federal Reserve. B) the 12 Federal Reserve Bank Presidents. C) five of the Federal Reserve Bank Presidents. D) the Board of Governors plus five of the Federal Reserve Bank Presidents.
If virtual reality headsets are considered substitutes for game consoles, then a decline in the price of game consoles would, all else equal
A) increase the demand for virtual reality headsets. B) decrease the demand for virtual reality headsets. C) increase the quantity of virtual reality headsets demanded. D) decrease the quantity of virtual reality headsets demanded.