Monetary & Fiscal policy
What will be an ideal response?
how shifting demand
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Which of the following is not one of the functions of the Federal Reserve?
a. Clearing checks. b. Printing currency. c. Supervising and regulating banks. d. Controlling the money supply.
In the 1960s and early 70s, economists believed that the Phillips curve indicated: a. a menu of macroeconomic choices available to policy makers
b. that higher levels of employment could be achieved with lower inflation. c. that higher inflation was the price for more unemployment. d. all of the above.
What effect will expansionary fiscal policy have on the economy, according to new classical economists?
Currency includes
a. paper bills and coins. b. demand deposits. c. credit cards. d. Both (a) and (b) are correct.