To non-activists, which of the following is the most useful stabilization policy?
A) procyclical monetary and fiscal policy changes
B) countercyclical monetary changes
C) government spending changes
D) None of these.
D
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The assumption of rational self-interest does not rule out the possibility of concern for other individuals
a. True b. False
The Employment Act of 1946 directed the federal government to pursue the three objectives of maximizing employment, production, and purchasing power
a. True b. False
Which of the following is NOT a characteristic of a constant cost competitive industry? As the industry expands in the long run,
A. input prices remain constant. B. the number of firms remain constant. C. the cost of production remains constant. D. the price of the product remains constant. E. none of the above
As inflation increases, for any fixed nominal interest rate, the real interest rate:
A. decreases. B. decreases by less than the increase in inflation. C. remains the same, that's why it is real. D. also increases.