Knowledge is an example of a positive externality
a. True
b. False
Indicate whether the statement is true or false
True
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We find that the world price of sugar is 20 cents a pound, the U.S. does not trade internationally, and the U.S. equilibrium price of sugar is 30 cents a pound. If the U.S. begins to trade internationally, the price of sugar in the U.S
________ to the world price and U.S. consumers buy ________ sugar. A) falls; more B) falls; less C) rises; more D) rises; less E) falls; no
Based on the data in the table above, at the short-run equilibrium
A) the unemployment rate is less than the natural unemployment rate. B) the unemployment rate is greater than the natural unemployment rate. C) the money wage rate will rise in the long run. D) the economy is at full employment.
If the calculated value of the t statistic is greater than the critical value, the null hypothesis, H0 is rejected in favor of the alternative hypothesis, H1.
Answer the following statement true (T) or false (F)
Which of the following explains why the monetary policy implementation lag is relatively short?
I. The FOMC meets several times a year and policymakers are easily able to confer in between meetings. II. Open market operations, one of the Fed's policy instruments can be put into effect immediately. III. The Chairman of the Fed works in close collaboration with the President. IV. Most financial institutions are member banks and will not hesitate to put into effect any new monetary policy. A) I B) I and II C) I, II, and III D) I, II, III, and IV