The longest lag monetary policy suffers is the ________ lag
A) data
B) recognition
C) legislative
D) transmission
E) effectiveness
E
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The difference between moral hazard and adverse selection is that moral hazard is about:
A. actions that arise after the parties enter an agreement B. unobserved characteristics of people occurring before parties enter into an agreement. C. never happens when adverse selection is a problem. D. None of these statements is true.
Nowadays, most observers believe that monetary policy
A. is less important than fiscal policy. B. is more important than fiscal policy. C. and fiscal policy are equally important. D. and fiscal policy are both unimportant.
How is the market for gasoline affected if the excise tax on gasoline is reduced?
A. The equilibrium quantity of gasoline decreases. B. The supply of gasoline increases. C. The equilibrium price of gasoline increases. D. The supply of gasoline decreases.
The assumption for perfect competition and monopolistic competition that enables economic profit to move towards zero is
A. freedom of entry and exit. B. homogeneous products. C. government involvement. D. perfect Information.