Generally speaking, central banks in developing economies are:
A. more independent from political pressures than central banks in developed economies.
B. less independent from political pressures than central banks in developed economies.
C. about as independent from political pressures as central banks in developed countries.
D. completely independent from political pressures.
Answer: B
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Prior to World War II,
a. the growth of real GDP was more stable than has been the case since the war. b. the growth of real GDP was less stable than has been the case since the war. c. unemployment seldom exceeded 4 percent of the labor force. d. double-digit swings in real GDP during a single year were unheard of.
In the fall of 2007, most economists felt that the
A. unemployment was at the natural rate. B. unemployment rate was below the natural rate. C. inflation rate was above the natural rate. D. inflation rate was below the natural rate.
List and give examples of the five pitfalls to economic thinking
Please provide the best answer for the statement.
Behavioral economists suggest that brand-loyalty, which can be a source of monopoly power for the producer, may be explained by consumers' tendency to have the:
A. Anchoring effect B. Mental accounting effect C. Status quo bias D. Confirmation bias