The time it takes for policy makers to change policy instruments once they have decided on the new policy is called
A) the data lag.
B) the recognition lag.
C) the legislative lag.
D) the implementation lag.
E) the effectiveness lag.
D
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If the real interest rate is greater than the equilibrium real interest rate:
A) interest rates tend to rise further. B) the quantity of credit supplied falls short of the quantity of credit demanded. C) the quantity of credit demanded falls short of the quantity of credit supplied. D) the quantity of credit demanded equals the quantity of credit supplied.
According to the contract theory of wages, firms and workers agree on a contract that fixes
a. money wages. b. real wages. c. money wages and employment. d. real wages and employment.
The Full Employment and Balanced Growth Act of 1978 set the target unemployment rate for the United States economy at 4 percent
a. True b. False
Of the following items, which is least likely to be discussed by a teacher of macroeconomics?
a. the national employment b. the business cycles c. our unemployment policy d. national income accounting e. a firm's profit