The main difference between stabilization policies and structural reform policies is that stabilization policies
A) focus on microeconomic issues and structural reform policies focus on the macroeconomic environment.
B) focus on macroeconomic issues and structural reform policies focus on the microeconomic environment.
C) are rarely used by reform governments; they prefer to use structural reform policies in their place.
D) create less unemployment than structural reform policies.
B
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The ultimate source of liquidity in a modern industrial economy is the
A) government Treasury. B) central bank. C) capital market. D) liquidity market.
In the short-run, an appreciation in the value of the U.S. dollar will tend to cause ________
A) a decrease in the level of income and higher inflation B) an increase in the level of income and higher inflation C) an increase in the level of income and lower inflation D) a decrease in the level of income and lower inflation
An increase in the US demand for British pounds causes
a. An appreciation of the pound b. Depreciation of the dollar c. None of the above d. Both a and b
The rate of product transformation (RPT) measures the ability of:
a. a consumer to trade one good for another while still maximizing his or her utility. b. a firm to substitute one input for another and still maintain the same production level. c. society to substitute the production of one good for another while still using a fixed supply of inputs efficiently. d. a firm to produce a final good while starting with only natural resources.