A monetary policy rule is when the monetary authority:
a. does not commit to future monetary actions.
b. often produces a monetary surprise to households.
c. commits to future monetary actions.
d. always behaves in unpredictable ways.
Ans: c. commits to future monetary actions.
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Price elasticity of supply is used to gauge
A) how responsive suppliers are to a change in demand. B) how responsive sales are to a change in input prices. C) how responsive suppliers are to price changes. D) how responsive suppliers are to changes in future prices.
Fireworks would be considered:
A. a common resource. B. a private good. C. a public good. D. an artificially scarce good.
Based on the following information, what is the amount of public saving? ReceiptsExpendituresFederal Government2,5002,000State and Local Governments1,5001,500
A. -200 B. -300 C. +300 D. -700
The conventional business cycle has _____ phases.
A. two B. three C. four D. five E. six