Fine-tuning involves the adoption of fixed policy rules regardless of the economic situation.
Answer the following statement true (T) or false (F)
False
Fine-tuning involves the use of policy in response to changes in the economy to maintain full employment.
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Fiscal policy is determined by the Federal Reserve System
Indicate whether the statement is true or false
The official poverty definition in the U.S. is having an income that
a. provides minimum biological needs b. is less than three times the cost of a nutritionally adequate yet frugal diet c. places the household in the bottom 20 percent of the income distribution d. is less than the average U.S. welfare allowance e. is approximately equal to the average household income of Canada
The long-run aggregate supply curve shows that by itself a permanent change in aggregate demand would lead to a long-run change
a. in the price level and output. b. in the price level, but not output. c. in output, but not the price level. d. in neither the price level nor output.
A profit-maximizing monopolist always charges the highest price possible.
Answer the following statement true (T) or false (F)