According to the textbook, Monetary policymaking is most accurately described as:
A. both an art and a science
B. superior to other policies, since it is conducted by economists.
C. a science due to detailed models used
D. an art as human judgments are necessary
Answer: A
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The Malthusian theory
A) shows that the production function will shift upward continuously. B) predicts that the real GDP per person will continue to increase as long as technology increases. C) is also called the classical growth theory and predicts that we will run out of resources. D) claims that the subsistence wage will increase over time. E) is also called the neoclassical growth theory.
When a firm's earnings rise, its stock prices will tend to fall
a. True b. False Indicate whether the statement is true or false
Jason had $30 to spend on games and books. A game costs $5, while a book costs $3 . If he decides to purchase 5 games and 4 books, his consumption bundle lies _____
a. above his budget line b. below his budget line c. at the intersection of his indifference curve and his budget line d. at the point where his indifference curve is tangent to his budget line
When firms in a perfectly competitive market face the same costs, in the long run they must be operating
a. under diseconomies of scale. b. with small, but positive, levels of profit. c. at their efficient scale. d. where price is equal to average fixed cost.