The Taylor rule is an example of a rule-based monetary policy system
Indicate whether the statement is true or false
True
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Tomas wants the city to convert a portion of an existing public park to a covered bus stop so it is more convenient to catch a bus to work each day. Michelle wants the city to expand the park so her kids have an even larger place to play outside
In this situation, Tomas's and Michelle's actions A) reflect natural and morally neutral preferences. B) are easy to separate into right and wrong. C) are all about greed and take no one else into consideration. D) have no possible way of resulting in compromise.
The economic way of thinking claims there are substitutes for
A) any good. B) most goods except non-renewable resources. C) most goods except clean air and clean water. D) most goods except wetlands and tropical rain forests.
What are the main differences between neoclassical economics and behavioral economics?
a. Neoclassical economics is mainly theoretical. b. Behavioral economics does not take as given that decision makers are rational. c. Neoclassical economics assumes that decision makers are fully informed. d. All of the above.
A 10 percent increase in buyers' incomes results in a 5 percent drop in the quantity of hot dogs demanded. In this range, the income elasticity of demand for hot dogs is
a. 0.5 b. 2.0 c. 5.0 d. -2.0 e. -0.5