According to Lucas' misperception theory, countries with higher rates of inflation should have a _____new classical AS curve
a. flatter.
b. steeper.
c. downward sloping
d. vertical.
e. none of the above.
A
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Along any single indifference curve the ________
A) consumer is equally satisfied with any of the combinations of goods B) level of current income is unchanged C) level of future income is unchanged D) level of current and future income is unchanged
Deregulation of the airline and trucking industries was followed by the creation of many new firms
a. True b. False Indicate whether the statement is true or false
Assets are things of value that people own. Liabilities are debts. Therefore, a bank will always consider a checking account deposit to be an asset and a car loan to be a liability.
A. Disagree. Checking accounts represent something that the bank owes to the owner of the account. It is a bank liability B. Agree. checking accounts or something of value that is in the bank. Therefore, they are a bank asset C. Disagree. Both checking accounts and car loans represent bank liabilities
Refer to the data. The marginal cost of the fifth unit of output is:
A. $80.
B. $90.
C. $50.
D. $20.