As the economy moves to the right of the long-run Phillips curve, inflationary:
A. pressures subside.
B. expectations rise.
C. pressures remain constant.
D. pressures build.
Answer: A
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You have an hour between your economics and math classes. What is the opportunity cost of that time if you use it to complete your math homework instead of your economics homework?
A) the economics homework you could have completed B) the cost of your calculator and math textbook C) the math homework you chose to complete D) zero, because it doesn't cost any money to do your math homework
What is meant by the phrase "economic integration?"
What will be an ideal response?
Olson (1971) argues that the gains from private competition cannot be exceeded by the gains from collective action
Indicate whether the statement is true or false
The Beck Depression Inventory-II has a reliability coefficient (coefficient alpha) of .92. Using classical test theory, interpret the meaning of this reliability coefficient.
a. The amount of error variance to observed variance is 92%
b. The amount of true variance to observed variance is 92%
c. The instrument has good enough reliability
d. The instrument's validity coefficient would be .922 (or .92 squared)