Median household 1-year-ahead consumer price inflation forecasts generated by the Michigan survey of US households and the Melbourne Institute survey of Australian households are tested for accuracy, bias and efficiency, and compared with naïve forecasts, forecasts derived from financial market...

This classroom experiment demonstrates the effects of time-based pay and output-based pay on worker behavior and productivity. Students will discover that workers paid a piece rate per unit produced will have incentives to work harder, but will sacrifice quality for increased quantity of output....