The Taylor rule says that the fed funds rate target is a function of all of the following, except
A) the actual inflation rate.
B) the target inflation rate.
C) the percentage difference between actual and potential real GDP.
D) the level of borrowed reserves.
D
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According to the misperceptions theory, when P < Pe, output is ________ its full-employment level and the short-run aggregate supply curve must shift ________ to restore full employment
A) below; upward B) below; downward C) above; upward D) above; downward
Refer to the table below. Using the technique cited in the previous question will result in an:
The following table illustrates alternative production techniques for producing 18 widgets that can be sold for $1 each for a total revenue of $18.
A. Economic loss of $2
B. Economic profit of $1
C. Economic profit of $2
D. Economic profit of $3