A significant lag for monetary policy is the time it takes to for a change in the money supply to change the economy. A significant lag for fiscal policy is the time it takes to pass legislation authorizing it
a. True
b. False
Indicate whether the statement is true or false
True
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The ability of one person or nation to produce a good at a lower absolute cost than another is called a(n)
A) comparative advantage. B) specialization advantage. C) market advantage. D) absolute advantage.
The risk of investing in the stock market can be eliminated by diversification
Indicate whether the statement is true or false
Other things remaining the same, which of the following is likely to decrease both the wage rate and the number of workers hired in a tea estate?
A) An increase in the price of tea B) A decrease in the price of tea C) A decrease in the opportunity cost of leisure D) An increase in the opportunity cost of leisure
A market with one or a small number of firms but no barriers to entry is known as
A) a natural monopoly. B) a contestable market. C) a perfectly competitive market. D) monopolistic competition.