Shifts in monetary policy will
a. stimulate output and employment almost immediately, and this will make it easier for policy-makers to change monetary policy in a manner that will promote macroeconomic stability.
b. stimulate output and employment almost immediately, and this will make it more difficult for policy-makers to change monetary policy in a manner that will promote macroeconomic stability.
c. stimulate output and employment with time lags that are long and variable and this will make it easier for policy-makers to change monetary policy in a manner that will promote macroeconomic stability.
d. stimulate output and employment with time lags that are long and variable and this will make it more difficult for policy-makers to change monetary policy in a manner that will promote macroeconomic stability.
D
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A payoff matrix shows ________
A) the various combinations of inputs required to produce a good B) the return from each action that players can take in a game C) the different combinations of two goods that can be bought with a given income D) the payment made to each factor of production for the production of a good
Suppose real GDP is $12.1 trillion and potential GDP is $12.6 trillion. To move the economy back to potential GDP, Congress should
A) lower taxes by an amount less than $500 billion. B) lower taxes by $500 billion. C) raise government purchases by more than $500 billion. D) lower government purchases by $500 billion. E) raise government purchases by $500 billion.
Which of the following is the legal right of ownership that others are not allowed to infringe on without paying compensation?
a. A command-and-control regulation b. Corrective taxes c. Marketable permits d. Property rights
At a given price level, an increase in which of the following shifts aggregate demand to the right?
a. consumption b. investment c. government expenditures d. All of the above are correct.