According to structural stagnationists there is an argument to be made that the Fed should return to standard monetary policy.
Answer the following statement true (T) or false (F)
True
This group of economists believes that continuing with the unconventional tools will undermine the fundamentals of the economy even more and allowing these tools to expire will help the economy to address its structural problems.
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The self-correcting property of the economy means that output gaps are eventually eliminated by:
A. increasing or decreasing potential output. B. government policy. C. decreasing inflation only. D. increasing or decreasing inflation.
Economics is a social science that studies how individuals, institutions, and society may:
A. Expand the amount of resources available to them B. Attain a minimum level of production C. Best use resources to maximize satisfaction of economic wants D. Reduce the amount of goods and services they need
The U.S. economy of the mid 1980s through 2007 is typically referred to as ________
A) "The Great Depression" B) "The Great Inflation" C) "The Great Moderation" D) all of the above E) none of the above
A rule of thumb in the employment of resources is to set
A) marginal revenue product (MRP) equal to marginal factor cost (MFC). B) marginal revenue (MR) equal to marginal cost (MC). C) marginal physical product equal to marginal resource cost. D) none of the above.