Poorly timed discretionary policy can do more harm than good. Getting the timing right with fiscal policy is generally
A) less difficult than with monetary policy.
B) far less difficult than with monetary policy.
C) more difficult than with monetary policy.
D) about the same difficulty as with monetary policy.
Answer: C
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If this is an open economy, quantity of cars demanded domestically will be ________. 
A. 80,000 B. 20,000 C. 60,000 D. 40,000
An English auction ends when ________
A) no bidder is willing to bid any higher B) a bidder accepts the price announced by the auctioneer C) a bidder bids above the market price of the good D) a bidder bids below the starting bid
When examining the growth record of any nation
A) all that must be examined is increases in per capital real GDP. B) no consideration should be given to the change in the average amount of leisure time in the nation. C) increases in per capita real GDP must be considered along with how far the production possibilities curve has shifted. D) we must consider which income groups have benefited most from the growth.
Union membership has fluctuated during the last several decades. Which of the following statements best describes the effect of unions on the share of total output allocated to labor?
a. The share of output going to labor has been virtually constant, even though union membership as a share of the labor force has fluctuated. b. The share of total output going to labor has followed the same pattern as the business cycle in recent years. c. The share of total output going to labor rose as union membership rose from 1945 to 1960 and fell as union membership declined during the 1960 through 2000 period. d. The share of total output going to labor has increased substantially, even though during the last several decades union membership has declined.