Which of the following is the study of “what is” rather than “what ought to be”?

With rational expectations, a policy that would decrease AD would certainly lead to: a. higher inflation and lower unemployment in the short run

b. lower inflation and higher unemployment in the short run. c. higher inflation and no change in unemployment in the short run, if people's expectations were correct. d. none of the above.

The person hired by a corporation's board of directors to ________ is known as the chief executive officer

A) chair the board of directors B) run the day-to-day operations of the corporation C) audit the financial records of the corporation D) hire additional members for the board of directors