A major advantage of monetary policy over fiscal policy is that monetary
a. policy affects all sectors of the economy equally.
b. policy can be put into effect more quickly.
c. policy, once implemented, takes effect more quickly.
d. authorities see the need for policy more quickly.
b
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An argument supporting promotion of the urban informal sector is
(a) the formal sector is incapable of providing enough employment. (b) informal sector workers are poorly educated. (c) it uses a relatively high capital intensity. (d) it would reduce urban bias.
The Federal Reserve Open Market Committee allows representatives of the President and Congress to sit on its meetings
a. True b. False
To construct a supply curve, an economist needs data on price and quantity. Each point on the supply curve is
a. supply of the product. b. a quantity supplied at that price. c. the amount that people want to buy. d. the amount people want to sell to buyers of different incomes. e. All of the above are correct.
According to the World Bank, nearly 2 billion people are classified as being in ________ poverty.
A. harsh B. extreme C. overwhelming D. severe