Farm price supports require price floors.
Answer the following statement true (T) or false (F)
False
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Discretionary fiscal policy is so named because it
A) is undertaken at the order of the nation's central bank. B) involves specific changes in taxes and government spending undertaken by Congress and the president. C) occurs automatically as the nation's level of GDP changes. D) involves secret advice given by the Council of Economic Advisers to the president.
What are the three basic economic questions that must be answered by all societies?
What will be an ideal response?
What is pure rent?
What will be an ideal response?
If expected inflation rises, monetary policy ________
A) is rendered ineffective B) must be tightened, to prevent further increases in inflation and expected inflation C) will prevent any increase in the real interest rate D) is designed to increase the nominal interest rate by more than the increase in expected inflation E) none of the above