Looking at the financial account data, it is possible to determine the total amount of official reserves available to a nation
Indicate whether the statement is true or false
FALSE
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The self-correcting tendency of the economy means that rising inflation eventually eliminates:
A. unemployment. B. exogenous spending. C. recessionary gaps. D. expansionary gaps.
Suppose the bobby pin industry is perfectly competitive. The price of a packet of bobby pins is $2.00. Pins and Needles, Inc is a firm in this industry and is producing 1,000 packets of bobby pins per day at the point where the MC = MR
The average cost of production at this output level is $1.50 per packet. a. What is the marginal cost of the 1,000th packet? b. Is this firm making an economic profit, zero economic profit, or an economic loss? How much? c. Is the firm in long-run equilibrium? Why or why not?
DSGE models are
A) similar to RBC models but allow for shocks other than productivity shocks. B) similar to RBC models, but government spending shocks play a major role. C) similar to Keynesian models except in the long run. D) similar to Keynesian models except in the short run.
If interest rates are high, the future payoff for every dollar saved is low.
Answer the following statement true (T) or false (F)