Early Keynesians felt that ________ policy was ________, so they stressed the importance of ________ policy
A) fiscal; ineffective; monetary
B) monetary; ineffective; fiscal
C) monetary; potent; monetary
D) fiscal; too potent; monetary
B
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If demand is elastic, then
a. the percentage change in quantity demanded is larger in absolute value than the percentage change in price b. supply is inelastic c. prices can neither rise nor fall d. the percentage change in quantity demanded is smaller in absolute value than the percentage change in price e. supply is elastic
A central bank that accommodates an aggregate supply shock
a. increases the money supply, making the inflation rate rise. b. increases the money supply, making the inflation rate fall. c. decreases the money supply, making the inflation rate rise. d. decreases the money supply, making the inflation rate fall.
Which of the following statements characterizes NAFTA's economic arrangements among its member countries (Canada, Mexico, and the United States)?
a. There are no restrictions on the movement of labor from one country to another. b. There are no restrictions on the movement of capital from one country to another. c. All three countries have adopted the same identical tariff system. d. There is free trade among the three member countries.
An increase in the interest rate, other things equal, would
What will be an ideal response?