Aggregate price information, such as recalculations of the CPI, is available to the public with ________ lags, causing difficulty for the ________ of the New Classical approach
A) long, Friedman but not Lucas version
B) long, Lucas but not Friedman version
C) long, Friedman and Lucas versions
D) short, Friedman and Lucas versions
E) short, Friedman but not Lucas version
D
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An overvalued domestic currency:
A) can be achieved by selling the domestic currency. B) harms all the economic agents in the country. C) makes imports less expensive for domestic consumers. D) benefits all the economic agents in the country.
If saving is greater than intended investment, the economy is
a. in equilibrium, and there is no change in business inventories b. not in equilibrium, and business inventories will decrease c. in equilibrium, and actual investment is equal to intended investment d. not in equilibrium, and business inventories will increase e. not in equilibrium, and the level of income will rise
A patent gives a single person or firm the exclusive right to sell some good or service for a specific period of time
a. True b. False Indicate whether the statement is true or false
A budget philosophy using fiscal policy to achieve the economy's potential GDP, rather than balancing budgets either annually or over the business cycle is termed as budget finance
Indicate whether the statement is true or false