The United States is an example of a mixed economy
a. True
b. False
Indicate whether the statement is true or false
True
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People who hold bonds may tend to consume more out of their income than they should because they think they are wealthier than they really are
Indicate whether the statement is true or false
If suppliers have rational expectations, what will be their expected price of grapes?
The following tables show the demand and supply for grapes. Demand is uncertain, with D1 and D2 each occurring 50% of the time. Suppliers must base their decisions on the expected price and must sell all grapes they bring to the market at the going market price.
a. $2.00 per pound.
b. $2.50 per pound.
c. $3.00 per pound.
d. $3.50 per pound.
The short run Phillips curve illustrates:
A) The increase in wage rates relative to the increase in the general price level. B) The trade-off between the unemployment rate and the inflation rate. C) The unemployment rate relative to the civilian labor force. D) None of the above.
In the above table, when the firm employs 3 workers, the marginal product will be
A. 36.67 tablets. B. 30 tablets. C. 42 tablets. D. 208 tablets.