Maintaining the growth of the money supply at a constant rate is an example of
A) an inflation targeting rule.
B) a nominal GDP targeting rule.
C) discretionary policy.
D) a money demand rule.
E) a money targeting rule.
E
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The supply-side effects show that a tax cut on labor income ________ employment and ________ potential GDP
A) increases; increases B) increases; does not change C) increases; decreases D) decreases; increases E) decreases; decreases
If marginal cost is constant, what happens to a market if it alters from perfect competition to monopoly without any change in the position of the market demand curve or any variation in costs?
A) Consumer surplus increases, and the previously existing deadweight loss decreases. B) Consumer surplus increases, and the previously existing deadweight loss increases. C) Consumer surplus is eliminated, and an equal-sized deadweight loss is created. D) Consumer surplus decreases in size, and a deadweight loss is created.
Which of the following industrial policies are effective for developing countries to deal with inflows of capital from overseas?
A. Import substitution, export-led growth, and clustering. B. Import substitution, export-led growth, and crowding out. C. Import substitution, government subsidy, and clustering. D. Market Substitution, government subsidy, and crowding out.
GDP is not a perfect measure of well-being; for example,
a. GDP excludes the value of volunteer work. b. GDP does not address the distribution of income. c. GDP does not address environmental quality. d. All of the above are correct.