_____, the time-inconsistency problem gets eliminated
a. When an inflation or a recession is correctly anticipated
b. When lags associated with monetary and fiscal policy are extremely short
c. When discretionary macro policy is replaced with fixed policy rules which are well publicized
d. When expectations about the economy adjust very slowly
e. When the price level in an economy adjusts over time with changes in aggregate demand
c
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When marginal revenue is positive, total revenue ________ when output increases and demand is ________
A) decreases; elastic B) decreases; inelastic C) increases; elastic D) increases; inelastic E) does not change; unit elastic
In both price-taker and competitive price-searcher markets, the long-run market price of a good will be equal to the
a. average total cost of producing the good. b. average variable cost of producing the good. c. average fixed cost of producing the good plus a normal return on that cost. d. marginal revenue derived from the sale of an additional unit of the good.
Which of the following was not a major area addressed by the Dodd-Frank Bill (i.e., Wall Street Reform and Consumer Protection Act of 2010)
a. Reducing systemic threats to the U.S. financial system. b. Solving the "too big to fail" problem in the U.S. financial system. c. Preventing spillover effects in the financial industry. d. Ensuring that investment banks and others reduced the amount of "skin in the game" they in the mortgage industry.
For a perfectly competitive firm, the marginal-revenue product curve is the same as the firm's short-run demand for labor curve.
Answer the following statement true (T) or false (F)