Which of the following statements is false?
A) Not all economists are agreed as to whether government should bail out companies in financial trouble.
B) Not all economists prefer a rule-based monetary policy to discretionary monetary policy.
C) Rule-based monetary policy advocates often assert that discretionary monetary policy can be motivated by politics.
D) The tax multiplier is always larger than the government spending multiplier.
D
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Economic profit of a decision in question equals
a. accounting profit of the decision in question + its opportunity cost. b. accounting profit of the decision in question ? accounting profit of the best available alternative. c. accounting profit of the decision in question + its opportunity cost + overheads. d. its opportunity cost + accounting profit of the best available alternative.
What is the difference between macroeconomics and microeconomics? Give an example of a question that a macroeconomist might be interested in answering, then do the same for a microeconomist
Economic discrimination occurs when equivalent factors of production receive different payments for equal contributions to output.
Answer the following statement true (T) or false (F)
The voluntary export restraint that the United States negotiated with Japan:
a. violated provisions of the GATT that encouraged countries to avoid using quotas. b. exploited a loophole in the GATT because the quota was administered by the exporting country. c. did not allow U.S. auto producers to raise their prices. d. did not impose any deadweight losses on the United States