In the aggregate supply-aggregate demand model, if every person in the economy correctly anticipates the inflation rate, the unemployment rate will
A) be less than the natural rate of unemployment. B) be more than the natural rate of unemployment.
C) equal zero. D) equal the natural rate of unemployment.
D
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The production-based method of national accounting sums up:
A) the total revenue earned by all the firms in the economy. B) the value that is added by each domestic firm in the production process. C) the income earned by each factor of production for participating in the production process. D) the expenditure incurred by domestic and foreign economic agents on domestic products. Infi Cor
Adam Smith’s diamond-water puzzle
A. can be resolved by distinguishing between marginal and total utility. B. occurs because diamonds have no utility. C. occurs because scarcity increases total utility. D. will likely never be resolved with existing economic tools.
Who is responsible for U.S. monetary policy?
What will be an ideal response?
In an ideal organization, when do agents always make decisions in the best interests of their principle?
a. The decision makers have the information necessary to make the decision b. The decision makers have the incentive to make the right decision c. All of the above d. None of the above