Most economists agree that
a. fiscal policy is a more effective stabilization tool than monetary policy.
b. it is difficult to time discretionary changes in macro-policy in a manner that will promote stability.
c. monetary policy should focus on reducing unemployment, while fiscal policy should focus on the control of inflation.
d. discretionary macro-policy can easily be instituted in a manner that will promote economic stability.
B
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Related to the Economics in Practice on p. 544: In February 2018, a new Chair of the Board of Governors of the Federal Reserve System was confirmed. This person is
A. the first Fed chair since Paul Volker to come to the position without a PhD in Economics. B. the first person to serve in this position who had never previously been employed in the Federal Reserve System. C. the first Democrat to serve in this position. D. all of the above
What type of economic research do analysts at investment banks conduct?
What will be an ideal response?
A situation where a consumer's willingness to use an item depends on how many others use it is
A) a positive-sum game. B) a network effect. C) price-leadership. D) a vertical merger.
Which of the following factor payment matches is not correct?
a. goods–payments for goods b. capital–interest c. labor–wage d. entrepreneurship–profit e. land–rent