Jane was a partner at a law firm earning $223,000 per year. She left the firm to open her own law practice. In the first year of business she generated revenues of $347,000 and incurred explicit costs of $163,000 . Jane's economic profit from her first year in her own practice is

The time it takes to overcome the practical and procedural hurdles before the Fed can begin to fix the economy is called the

A) recognition lag. B) implementation lag. C) impact lag. D) liquidity lag.

Which of the following conclusions is not supported by the Three-Sector-Model?

a. An increase in a nation's supply of goods and services raises the amount sold per time period and lowers the nation's GDP Price Index. b. An increase in the demand for a nation's currency in the foreign exchange market raises its international value. c. An increase in a nation's real risk-free interest rate increases the willingness and ability of lenders/savers to supply credit to the real loanable funds market, and it decreases the willingness and ability of individuals and companies to borrow/invest. d. An increase in a nation's demand for goods and services within the Classical range usually leads to a strong decrease in the unemployment rate.