Monetary policy-makers can help smooth out the fluctuations of the business cycle by _____.
(A) Implementing inside lags.
(B) Reacting to current trends.
(C) Practicing good timing.
(D) Examining banks.
Answer: (B) Reacting to current trends.
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A market economy answers the question "how" will goods be produced by focusing on a. dollar votes
b. consumer sovereignty. c. least-cost method of production. d. who can afford these goods.
The 1990s saw inflation fall and real growth increase in the U.S. and in many other countries. This is partially attributed to all of the following except:
A. redesign of many central banks. B. technological innovation. C. central banks focused more on exchange rates in a global environment. D. central banks became better at their jobs.
A direct or positive relationship between price and quantity supplied is
A. a change in demand. B. a demand curve. C. a supply curve. D. the market clearing price.
The supply curve for land in the city of San Francisco is most likely
A) horizontal or perfectly elastic. B) a downward sloping straight line. C) an upward sloping straight line. D) vertical or perfectly inelastic.