A key issue in the present disagreement between Keynesian and monetarist economists is whether
A. monetary policy can bring the economy to full employment.
B. the economy is better off with policymakers adopting a strict rule or using their discretion to set policies.
C. monetary policy can influence interest rates.
D. fiscal policy involves the use of taxation.
B. the economy is better off with policymakers adopting a strict rule or using their discretion to set policies.
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The Austrian school of economists stressed on the efficiency of the markets on the pretext that:
a. resources could be efficiently allocated through price system and free markets. b. governmental intervention was necessary for the efficient allocation of resources. c. the price charged under the free market system was always lower than under central planning. d. the market had never failed earlier. e. the market did not suffer from imperfect information.
Summing up governmental intervention in the pricing of goods, we can say it
a. occurs only under wartime conditions b. has grown considerably during the past two decades and now characterizes the majority of our markets c. has peaked in the 1970s and now has only a shadow of its former influence d. occurs in relatively few markets because most market prices are determined by the forces of demand and supply e. occurs only in the production of farm goods
President Bush removed the United States from the Kyoto Protocol because
a. he did not accept the scientific explanation of global warming b. Congress voted for him to do so c. the protocol did not impose emissions cuts on developing countries d. he believed that the emissions targets were too lenient
Higher rates of saving today contribute to ________ in the future.
A. more unemployment B. more capital gains C. higher tax rates D. a higher standard of living