Monetary policy has the following advantage(s) over fiscal policy:
A. it can usually be fine-tuned.
B. it is less influenced by politics.
C. it can be implemented faster.
D. all of the answers given are correct.
Answer: D
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A commercial bank has checkable-deposit liabilities of $50,000 and a required-reserve ratio of 20%. What is the amount of required reserves?
A. $10,000 B. $250,000 C. $1 million D. $50,000
When entry barriers into a market are low, firms will tend to earn zero economic profit in the long run because
a. low entry barriers lead to rising costs. b. profit-seeking entrepreneurs will not enter a market when entry barriers are low. c. short-run profit attracts additional suppliers and drives down the market price. d. consumers will refuse to pay more than the cost of producing a good once they find out the producer's per-unit costs.
Barter is:
A. the direct trade of goods and services for other goods and services. B. the extension of credit to borrowers using funds raised from savers. C. a means of channeling funds from savers to borrowers with productive investment opportunities. D. an equity claim to ownership.
What is a price floor and what are its economic effects?
Please provide the best answer for the statement.