The Taylor rule is a:
A. Strictly passive approach to monetary policy
B. Strictly activist approach to monetary policy
C. Combined passive and activist approach to monetary policy
D. Coordination directive for monetary and fiscal policy
C. Combined passive and activist approach to monetary policy
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If economists forecast a decrease in aggregate expenditure, which of the following is likely to occur?
A) Inventories will fall. B) GDP will rise. C) GDP will fall. D) Wages will rise.
Honey producers provide a positive externality to orchards because
a. the honey producers get more honey. b. the orchard owner frequently gets stung by the honey producer's bees. c. the orchard owner does not have to purchase bees to pollinate his flowers. d. the honey producers have to rent access to the orchard grounds.
International financial freedom
A. helps all citizens in both poor and wealthy countries. B. hurts wealthy countries. C. maximizes world product. D. hurts poor countries.
Ceteris paribus means
A) "all variables are independent." B) "other things being constant." C) "some assumptions are unrealistic." D) "some theories are not rational."