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Author Question: According the Lucas' misperception model, when prices unexpectedly rise, suppliers infer that their ... (Read 72 times)

bobbysung

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on: Jun 30, 2018
According the Lucas' misperception model, when prices unexpectedly rise, suppliers infer that their relative prices have _____, which induces them to _____ output.
 
  a. decreased; increase.
  b. increased; decrese.
  c. decreased; decrease.
  d. increased; increase.

Question 2

Tariffs provide domestic producers with incentives to be inefficient and operate on the basis of comparative disadvantage.
 
  Indicate whether the statement is true or false


mcabuhat

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Reply #1 on: Jun 30, 2018
Answer to Question 1

D

Answer to Question 2

True


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