The inflation rate is 8 percent, and the central bank is considering slowing the rate of money growth to reduce inflation to 4 percent. Economist Dmitri believes that expectations of inflation change quickly in response to new policies, whereas economist Jake believes that expectations are very sluggish. True or False: Economist Jake is more likely to favor using contractionary policy to reduce inflation than economist Dmitri. True False

Which one of the following best describes pro forma financial statements? select one: a. financial statements expressed in a foreign currency b. financial statements where the assets are expressed as a percentage of total assets and costs are expressed as a percentage of sales c. financial statements showing projected values for future time periods d. financial statements expressed in real dollars, given a stated base year e. financial statements where all accounts are expressed as a percentage of last year's values