According to economists who promote sticky-price theories
A) only fiscal policy is an effective stabilization policy.
B) only monetary policy is an effective stabilization policy.
C) both fiscal and monetary policy can be effective stabilization policies.
D) neither fiscal nor monetary policy is an effective stabilization policy.
Answer: C) both fiscal and monetary policy can be effective stabilization policies.
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What type of cost is defined as at least what the resource could earn in its best alternative use?
a. implicit cost b. explicit cost c. opportunity cost d. total cost
Refer to the table below. The average benefit of 2 units of activity is:Units ofActivity TotalCostTotalBenefit0$0$01$30$1002$40$1603$60$1904$100$2105$150$2206$210$225
A. $60 B. $80 C. $20 D. $40
The real minimum wage rate
A) has generally decreased during the 1970s and 1980s and has fluctuated around a $6.50 per hour average since the mid-1980s. B) has stayed in the range between $6 and $5 (measured in 2009 dollars per hour) since 1967. C) fell after 1967 until it reached a minimum around 1985 and has generally risen since then. D) was at its highest level in 1995. E) has generally increased since 1967.
If a country has a high level of income, it likely has:
A. a highly productive work force. B. widespread access to technology. C. high levels of physical capital. D. All of these are true.