At the time of the South Korean financial crisis, the merchant banks were
A) almost virtually unregulated.
B) subject to heavy government regulation.
C) engaged in long-term lending to the corporate sector.
D) restricted to long-term foreign borrowing.
A
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The primary criticism by Keynesians of the credibility argument for rules is that
A) reputations are a less costly method of gaining credibility. B) reputations are a less costly method of maintaining credibility. C) the cost of losing flexibility over policy choices may exceed the cost of gaining credibility. D) rules that reduce presidential and congressional influence over monetary policy could ultimately be harmful to the economy.
Consider a competitive market where the demand and the supply depend on the current price of the good. Then fitting a line through the quantity-price outcomes will
A) give you an estimate of the demand curve. B) estimate neither a demand curve nor a supply curve. C) enable you to calculate the price elasticity of supply. D) give you the exogenous part of the demand in the first stage of TSLS.
If people eventually adjust their inflation expectations so that in the long run actual and expected inflation are the same, then policymakers
a. can not exploit a tradeoff between inflation and unemployment in either the short or long run. b. can exploit a tradeoff between inflation and unemployment in the short run but not in the long run. c. can exploit a tradeoff between inflation and unemployment in both the short run and the long run. d. can exploit a tradeoff between inflation and unemployment in the long run, but not the short run.
In aggregate spending, investment does not include _____
Fill in the blank(s) with the appropriate word(s).