When market participants have rational expectations, the deviation of the expected price from the actual future price is
A) zero.
B) predictable, provided all relevant information is made use of.
C) not predictable.
D) predictable under certain circumstances, but not under others.
C
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In 2014, GDP per capita was ________ in the United States than in China, and since 1980, the growth rate of real GDP per capita has been ________ in the United States than in China
A) lower; lower B) higher; lower C) lower; higher D) higher; higher
A welder who quits his job and moves from Houston to Buffalo to try to get a better welding job is said to be:
a. frictionally unemployed. b. underemployed c. cyclically unemployed. d. structurally unemployed.
If the U.S. economy adds to the capital stock, this may require a temporary decrease in the amount of present consumption.
a. true b. false
If equilibrium is achieved in a competitive market, then
A) there is no deadweight loss. B) the deadweight loss will be maximized. C) the deadweight loss will equal the sum of consumer surplus and producer surplus. D) the deadweight loss will be the same as the opportunity cost of the last unit of output sold.