The constitution of the European Union was approved in 2008
a. True
b. False
B
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Monetary policy is ________ flexible than fiscal policy because monetary policy changes are made by ________, while fiscal policy changes must be made by ________.
A. more; the President; legislative action B. more; legislative action; the FOMC C. more; the FOMC; legislative action D. less; the FOMC; the President
Suppose the pure rate of time preference is 1%, the growth rate of consumption per capita is 3%, and the elasticity of the marginal utility of consumption is 2. This suggests a value for the social rate of time preference of ...
a. 2% b. 4% c. 5% d. 7% e. 9%
A country can consume outside its production possibilities curve by trading.
Answer the following statement true (T) or false (F)
The phrase "sticky prices" refers to the prices of:
A. consumer goods not adjusting to the price level. B. more durable goods "sticking," and not adjusting to the price level. C. some output taking longer to adjust to the price level than the inputs used to create it. D. some inputs taking longer to adjust to the price level than the output it creates.