Trade occurs when a country has an absolute advantage and not just a comparative advantage over another country
a. True
b. False
Indicate whether the statement is true or false
False
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All of the following arguments are made against inflation targeting EXCEPT
A) rigid numerical targets would diminish the flexibility of monetary policy. B) the Fed would need to depend on future forecasts of inflation since monetary policy acts with a lag. C) the Fed has little influence on inflation. D) Holding the Fed accountable for low inflation may make it difficult for elected officials to monitor whether the Fed is supporting good overall economic policy.
The "metering" scheme refers to
a. Discriminating consumers through the amount of product bought b. Giving away core technology and making up for it through higher margins on secondary sales c. An indirect method of price discrimination d. All of the above
The market basket of goods and services used to calculate the consumer price index [CPI] by the Department of Labor in the U.S. changes only every two years
a. True b. False Indicate whether the statement is true or false
Which of the following statements best describes the neoclassical view about movements in unemployment?
a. The neoclassical view is not especially helpful in explaining why unemployment moves up and down over long time horizons. b. The neoclassical view is especially helpful in explaining why unemployment moves up and down over short time horizons of a few years. c. The neoclassical view is not especially helpful in explaining why unemployment moves up and down over short time horizons of a few years. d. The neoclassical view is especially helpful in explaining why unemployment moves up and down over short and long time horizons.