Refer to the table below. The expected value of the price of the input in Country A is ________ the expected value of the input in Country B and the extent of the variation in price in Country A is ________ than the extent of variation in price in Country B.
The above table provides the probability distribution of price of an input next year in Country A and Country B.
A) the same as; greater
B) less than; less
C) the same as; less
D) greater than; greater
C) the same as; less
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Pluralistic ignorance exists when
A) the members of a group believe one thing but mistakenly assume that most of the other members believe something else. B) a group of bystanders all agree that something needs to be done but each feels less personal responsibility for taking action because each perceives that there are others who could take action. C) a majority of people in a group do not have the intellectual capacity of arriving at a viable solution to a public goods problem. D) the least-capable member of a group exerts his influence over the rest of the group when trying to arrive at a decision on how to internalize an externality.
What can the Federal Reserve do to reduce the natural rate of unemployment?
A) nothing B) follow expansionary monetary policy that will reduce inflation C) follow expansionary monetary policy that will increase inflation D) follow contractionary monetary policy that will increase inflation