Answer the following statement(s) true (T) or false (F)
1.Economists who believe that, in the short run, discretionary monetary and fiscal policy can stimulate a recessionary economy with aggregate demand management are known as activists.
2.Expansionary fiscal policy is usually effective at correcting for negative supply shocks.
3.Between 1999 and 2004, inflation was low but housing prices were increasing very rapidly.
4.The use of payment contracts that automatically adjust for changes in inflation is known as indexing.
5.Indexing is an effective method for preventing rises in the inflation rate.
1.true
2.false
3.true
4.true
5.false
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Gamble A results in $10 with probability 0.4 and $30 with probability 0.6. Gamble B results in $20 with probability 1. If an individual prefers Gamble A to Gamble B, the independence axiom implies that he prefers Gamble C that gives $0 with probability 0.5, $10 with probability 0.2 and $30 with probability 0.3 to Gamble D that results in $20 with probability 0.5 and $0 with probability 0.5.
Answer the following statement true (T) or false (F)
A firm's trademark is protected from misuse if it is registered with the
A) U.S.D.A. B) U.S. Patent and Trademark Office. C) U.S. Supreme Court. D) F.C.C.
When Wilma in Wisconsin buys stock in BMW in Germany, NCO:
A. decreases. B. is unaffected. C. increases. D. is zero.
Suppose that, when producing 10 units of output, a firm's AVC is $22, its AFC is $5, and its MC is $30. This firm's
A. ATC is $35.
B. ATC is $57.
C. total cost is $270.
D. total cost is $30.