Which of the following would be the strongest signal in the labor market?
a. a nice haircut
b. a stylish suit
c. a graduate degree
d. a professional business card
c. a graduate degree
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Stock prices rise when abnormal profit expectations rise
Indicate whether the statement is true or false
According to the rational expectations theory,
a. on average people have very little idea of what to expect from government policy makers. b. people form expectations by focusing only on the private sector. c. people do not consider likely government policies when forming expectations. d. people form expectations, in part, by considering the probable future effects of changes in government policy.
The change in the money supply in an economy is measured as:
a. the difference between the government deficit and government borrowing. b. the sum of a change in high-powered money and the change in tax revenues. c. the difference between government borrowing and government spending. d. the ratio of the change in excess reserves to the deposit expansion multiplier. e. the change in the government budget deficit.
The difference between economic profit and accountant's definition of profit is that an economist's total cost counts the ____ of inputs
a. absolute value b. overheads c. opportunity cost d. gross cost