According to the Monetarists, "Policy activism" is difficult if not impossible to perform successfully because
A) the timing of policy impacts on nominal GDP are known.
B) the magnitude, size of impacts are known.
C) the timing and magnitude of the impact of AD disturbances are known, forecasted with precision.
D) Monetarists believe all of the above are correct.
D
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In the United States today, the U.S. dollar is backed by
A) silver. B) U.S. Treasury securities. C) gold. D) none of the above
Ranchers can raise either cattle or sheep on their land. Which of the following would cause the supply of sheep to increase?
A) an increase in the price of sheep B) a decrease in the price of cattle C) an increase in the price of sheep feed D) an increase in the demand for cattle
In the equation S = Y - C, in order to interpret Y as disposable income, it is necessary to interpret S as ________ saving
A) private B) national C) government D) business
Suppose the economy was initially in a long-run equilibrium. Then the world economy expands so that foreign income rises. U.S. aggregate demand ... and eventually the money wage rate ...
What will be an ideal response?