Unlike the practice in many other countries, in the United States:
A. the agency responsible for monetary policy is not directly controlled by the government.
B. only monetary policy is used to influence the economy, and fiscal policy is not allowed.
C. the agency responsible for fiscal policy is not directly controlled by the government.
D. only fiscal policy is used to influence the economy, and monetary policy is not allowed.
Answer: A
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Starting from long-run equilibrium, an increase in autonomous investment results in ________ output in the short run and ________ output in the long run.
A. lower; potential B. higher; higher C. lower; higher D. higher; potential
The manager of View Your World, a high-end window manufacturer, notices that the cost to distribute their windows in the spot market has risen. As a result of the change, which of the following is true?
A) The manager has more of an incentive to integrate forward. B) The manager has more of an incentive to integrate backward. C) The manager has less of an incentive to integrate backward. D) The manager has less of an incentive to integrate forward
The price for labor is the wage rate. What happens to the quantity of labor supplied if wages increase?
a. It increases. b. It decreases. c. It does not change. d. Uncertain-economic theory has no answer to this question.
Given the economy's existing resources and technology, the only way to enjoy more consumer goods today is to
a. devote more resources to investment goods today. b. accumulate more capital today. c. have a slower economic growth rate in the future. d. devote more resources to consumer goods in the future.