In order to change inflationary expectations in 1979, the Fed's monetary policy under Paul Volcker's leadership resulted in ________ and ________
A) steep inflation; low unemployment
B) deflation; high unemployment
C) disinflation; low unemployment
D) disinflation; high unemployment
E) steep inflation; high unemployment
D
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In country X, the average yearly salary of 50-year-olds with 16 years of education is $50,275, while the average yearly salary of 50-year-olds with 12 years of education is $36,265
According to this data, four additional years of education are likely to be correlated with higher future wages of about: A) 24 percent. B) 38 percent. C) 50 percent. D) 88 percent.
Suppose that most government spending was on capital goods that contribute to economic growth. How would that affect the Ricardian equivalence debate?
What will be an ideal response?
A positive economic statement is:
a. an opinion of an action that should be taken. b. an action that will have a positive effect on the economy. c. a statement testable by facts. d. a claim that the speaker is positive will occur. e. always a microeconomic position.
Since World War II, the share of corporate income tax collections in total federal revenue has been:
a. increasing rapidly. b. declining rapidly. c. increasing slowly. d. declining generally.