The Fed's quick response to the threat to the economy after September 11, 2001, makes a strong case for
a. a rules-based monetary policy regime.
b. a discretionary-based monetary policy regime.
c. the superiority of fiscal policy.
d. the dominant role of Congress in activist policy.
b
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What will be an ideal response?
In the absence of discrimination, as human capital investments increase, wages will generally
A) decrease. B) increase. C) not change. D) increase or decrease.
Which of the following differentiates firm behavior in oligopoly from firm behavior in other market structures?
a. They are price makers. b. They collude to lower prices together. c. They collude to raise prices together. d. They are price takers. e. They take into consideration how other firms might react to their actions.
Explain how the introduction of new goods might bias the calculation of the consumer price index