Economic theory
a. expresses normative values
b. invents imaginative and interesting stories
c. predicts the behavior of a specific economic decision maker after an economic change
d. predicts the average behavior of a group of similar economic decision makers after an economic change
e. uses only perfect and complete information
D
Economics
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An increase in inflation expectations shifts the short-run Phillips curve right and has no effect on the long-run Phillips curve
a. True b. False Indicate whether the statement is true or false
Economics
In 2010, households in the lowest quin tile of the income distribution received
a. 3.8 percent of aggregate income. b. 5.7 percent of aggregate income. c. 8.7 percent of aggregate income. d. 10 percent of aggregate income.
Economics