________ rational expectations, ________
A) Most people have always formed; but macroeconomists have only recently come to recognize this fact
B) Macroeconomists have invented; and are trying to teach them to the general public
C) Policy makers have devised; in search of more effective policies
D) The latest information is an important input in; so most people must make do with adaptive expectations
A
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Refer to Table 9-11. With trade, what is the total gain in clock production?
A) 150 B) 300 C) 2,100 D) 2,250
A conclusion from the study of automobile markets by Allen Jung of the University of Chicago was that:
a. the more experienced buyers got better deals. b. dealer characteristics had considerable influence on the prices they offered. c. variation in the offered price by dealers of cars was uniform. d. there was little or no difference between the average prices quoted to different types of buyers.