The answer is: "Policymakers are not aware of changes in the economy as soon as they happen." What is the question?
A) What is the wait-and-see lag?
B) What is the data lag?
C) What is the effectiveness lag?
D) What is the transmission lag?
E) none of the above
B
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The figure illustrates Elijah's preferences. He is currently at point A. The price of pizza decreases. The move from point A to point ________ is the substitution effect and the move from point ________ to point ________ is the income effect
A) B; B; C B) E; E; C C) D; D; B D) C; C; B
When did intellectual property rights become part of trade agreements?
What will be an ideal response?
Generally, economies of scope are present when
A) economies of scale are present in the production of two or more goods. B) economies of scale are constant in the joint production of two products. C) joint output is less from a single firm than could be achieved from two different firms each producing a single product (assuming equivalent production inputs in both situations). D) joint output is greater from a single firm producing two goods than could be achieved by two different firms each producing a single product (assuming equivalent production inputs in both situations).
Structural unemployment is frequently caused by:
a. technological changes that make certain job skills obsolete. b. temporary layoffs in industries such as construction. c. the impact of recessions on employment. d. none of these.