According to the rational expectations hypothesis, an individual's assessment of future economic performance
A) considers both past performance and current monetary and fiscal policy.
B) only considers past performance.
C) does not consider the impact of inflation.
D) does not consider past performance.
A
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What is the relationship between the bowed out shape of the production possibilities frontier and the increasing opportunity cost of a good as more of it is produced?
What will be an ideal response?
Answer the following statement true (T) or false (F)
1) U.S. exports of farm products have generally declined as a percentage of U.S. farm output over the past half-century. 2) Increases in incomes usually result in more than proportionate increases in the demand for agricultural products in a growing economy. 3) Agriculture is overcrowded because of absolute and relative increases in the size of farm employment. 4) About 10 percent of the U.S. labor force is in agriculture.