One way to overcome the problem of time inconsistency is to
a. legislate policy rules.
b. grant policymakers independence..
c. appoint policy makers with credibility.
d. both a and c.
e. all of the above.
E
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In the United States, from 1980 to 2011, the percentage of
A) part-time workers who are part time for noneconomic reasons has increased significantly to over 30 percent. B) part-time workers who are part time for noneconomic reasons has risen during recessions and fallen during expansions. C) part-time workers who are part time for economic reasons has increased significantly to over 30 percent. D) part-time workers who are part time for economic reasons has risen during recessions and fallen during expansions. E) None of the above answers is correct.
In the figure above, suppose the original budget line is BD. A rise in the price of a compact disc will
A) rotate the budget line to AD. B) rotate the budget line to CD. C) not move the budget line. D) result in a parallel leftward shift of the budget line.
The demand curve for labor of Coca-Cola manufacturers will shift to the right if the
a. wages of Coca-Cola workers decrease b. price of Coca-Cola decreases c. supply curve of Coca-Cola workers shifts to the left d. price of Pepsi decreases e. new technology shifts the MPP of Coca-Cola workers to the right
The multiplier is useful in determining the:
A. full-employment unemployment rate. B. level of business inventories. C. change in the rate of inflation from a change in the interest rate. D. change in GDP resulting from a change in spending.