When people use all the relevant data and principles of economics to forecast inflation, they are making
A) what is called a "data-based forecast."
B) an always accurate forecast.
C) a mistake.
D) what is called a "rational expectation."
E) an exaggerated forecast.
D
Economics
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If the FOMC's directive indicates a change in monetary policy, the account manager at the Fed's Open Market Trading Desk must
A) design dynamic open market operations. B) design defensive open market operations. C) seek approval of the change from the Secretary of the Treasury. D) seek approval of the change from a majority of the presidents of the Federal Reserve district banks.
Economics
A profit-maximizing monopsonist will hire workers up to the point at which
A) W = MRP. B) MRP = MFC. C) W = MFC. D) W = MRP = MFC.
Economics