Which of the following statements would Milton Friedman disagree with?
A) Monetary policy has few short-run effects on the real economy.
B) In the long run, changes in the money supply primarily affect the price level.
C) In practice, there is little scope for using monetary policy actively to smooth out business cycles.
D) The Federal Reserve cannot be relied on to effectively smooth out business cycles.
A
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Why did India's economic growth rate lag far behind growth rates in South Korea, Japan, and Taiwan between 1960 and 1999?
A) Indian households saved too much and spent too little. B) Indian government officials opened the nation up to free international trade. C) India engaged in central economic planning. D) India has too small of a population to generate a highly specialized division of labor.
Suppose that you have saved $100 . You can spend it today or you can put it in your savings account for a year and earn 5% interest. What is the opportunity cost of spending the money today?
What will be an ideal response?
In the life-cycle hypothesis, people are assumed to have a consumption pattern that leads them to save
A) at no point in their life. B) in the working years up to retirement. C) in their retirement years. D) in every year of their life.
The Economic Report of the President is prepared by: a. the President
b. Congress. c. the Office of Management and Budget. d. the Council of Economic Advisers. e. the Secretary of the Treasury.