The degree to which the public believes the central bank's announcements about future policy is its
A) reputation.
B) transparency.
C) openness.
D) credibility.
D
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Use the following figure to answer the question below.
Dave's opportunity cost of producing 1 pound of green beans is ________ pound(s) of corn.
A. 1/2 B. 4 C. 2 D. 1
Positive economics answers the question, "What ought to be?" Normative economics predicts the consequences of alternative actions, answering the questions, "What is?" or "What will be?"
Indicate whether the statement is true or false
The annual rental rate for a machine is
a. the yearly depreciation and maintenance costs for the machine. b. the yearly interest costs associated with owning the machine. c. the initial purchase price of the machine divided by the number of years the machine is expected to last. d. the sum of the yearly depreciation, maintenance, and interest costs associated with owning the machine.
Most of the taxes collected by governments tend to
a. remain fixed. b. move in the opposite direction from GDP. c. be sales taxes. d. rise and fall with the level of GDP.