Saying the consumer is rational means
A) the consumer is a stand-in for all consumers.
B) the consumer is getting rationed.
C) the consumer makes reasonable choices.
D) the consumer makes the best choices.
D
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At a price of $4 in the above figure
A) the equilibrium quantity is 400 units. B) there is a surplus of 200 units. C) the quantity supplied is 400 units. D) there is a shortage of 200 units.
The channels through which monetary policy affects economic activity are called the ________ of monetary policy
A) transmission mechanisms B) flow mechanisms C) distribution mechanisms D) allocational mechanisms
If the actual price level is lower than the expected price level, the economy will contract in the short run
a. True b. False Indicate whether the statement is true or false
A wage profile rises because
A) employees become more productive over time. B) employees become less productive over time. C) managers are better able to monitor employees. D) increases in the minimum wages push up other wages.