Policy is conducted via discretion if policymakers
a. announce and achieve a constant money supply.
b. announce and achieve a constant interest rate.
c. are free to respond to changes in economic conditions on a case-by-case basis.
d. announce in advance how they will respond to changes in economic conditions.
C
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Half of all your potential customers would pay $16 for your product but the other half would only pay $10 . You cannot tell them apart. Your marginal costs are $4 . If you set the price at $16, the expected profit is:
a. $3 b. $4 c. $5 d. $6
It is a common mistake to confuse the slope of the supply curve with its elasticity.
Select whether the statement is true or false. A. True B. False
An example of odious debt would be debts on the part of a nation that were incurred by a dictator for the well-being of his family
Indicate whether the statement is true or false
The economic functions of government include
A) determining prices. B) setting wages in the public sector. C) protecting property rights. D) welfare.