Using the DD-AA framework, which one of the following statements is the MOST accurate?
A) Only monetary policy can bring the economy to full employment.
B) Only fiscal policy can bring the economy to full employment.
C) Only both monetary and fiscal policies can bring the economy to full employment.
D) Both policies are capable of bringing the economy to full employment and low inflation.
E) Monetary policy by itself or fiscal policy by itself can bring the economy to full employment.
E
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National income accounting helps economists and policymakers ________.
A. determine which firms are likely to succeed or fail B. measure what is occurring in each specific labor market C. follow the long-run course of the economy to assess whether it has grown or stagnated D. It helps accomplish all of these
In comparing the magnitudes of the components of GDP according to the expenditure approach, we see that in the United States
A) government expenditure on goods and services is the largest category. B) investment is the largest category. C) investment is much larger than government expenditure on goods and services. D) investment is less than government expenditure on goods and services. E) investment, government expenditure on goods and services, and consumption expenditure are all about the same size.
The notion that our ability to conserve natural resources is growing more rapidly than their supplies are dwindling is supported by the fact that
a. most economists do not regard the availability of natural resources as a determinant of productivity. b. the quantity of natural resources does not enter into any production function. c. inflation-adjusted prices of most natural resources have been stable or fallen over time. d. inflation-adjusted prices of most natural resources have risen over time.
A prominent feature of conditionality linked to loans by the International Monetary Fund is nationalization of key industries.
Answer the following statement true (T) or false (F)