Economic analysis that focuses on bounded rationality and psychological insights is known as:
a. behavioral economics.
b. Keynesian economics.
c. Austrian economics
d. supply-side economics.
a
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Macroeconomic issues include all of the following EXCEPT:
A. regulation of natural monopolies B. economic interdependence among nations C. economic growth and living standards D. inflation
The above figure shows Jane's budget line and two of her indifference curves. Jane's marginal rate of substitution is
A) the rate at which she would give up a lobster dinner for a steak dinner and consider herself just as well off. B) equal to the ratio of the price of a steak dinner to the price of a lobster dinner when she is at her best affordable point. C) equal to 2 lobster dinners per steak dinner at her best affordable point. D) Both answers A and B are correct.
If Congress increases taxes to balance the federal budget, then to prevent additional unemployment and a recession the Fed can
a. reduce interest rates by increasing the money supply. b. increase interest rates by decreasing the money supply. c. increase interest rates by increasing the money supply. d. reduce interest rates by decreasing the money supply.
In presence of serial correlation, the OLS variance formula accurately estimates the true variance of the OLS estimator.
Answer the following statement true (T) or false (F)