Economic forecasting has improved tremendously in the last 20 years with the development of computers
Indicate whether the statement is true or false
F
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Which of the following is true of a duopoly with differentiated products?
A) A firm loses all its customers when its rival lowers the price of its product. B) A firm does not lose all its customers when its rival lowers the price of its product. C) A firm faces a perfectly elastic demand curve. D) A firm faces a perfectly inelastic demand curve.
A temporary increase in income today leads to
A) a small increase in current consumption. B) a large increase in current consumption. C) a small decrease in future consumption. D) a large decrease in future consumption.
Economics deals with choices
A) that involve the wants of individuals. B) that involve what people only need to survive. C) that people make without self-motivated interest. D) that people normally do not make.
The Federal Reserve increases the federal funds rate. The resulting economic change will be represented by a(n): a. upward movement along the short-run Phillips curve. b. downward movement along the short-run Phillips curve. c. rightward shift of the short-run Phillips curve
d. leftward shift of the short-run Phillips curve.