Direct controls have a clear advantage when a total ban is necessary.
Answer the following statement true (T) or false (F)
True
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If the costs of negotiating and enforcing contracts are _____ relative to the benefits, buyers and sellers have incentives to make economically efficient arrangements that _____ value
a. high; increase b. low; increase c. high, decrease d. low; decrease
If the Fed wishes to decrease the money supply, it could:
A. buy bonds. B. increase the reserve requirement. C. decrease the discount rate. D. print less currency.
Explain how the debt crisis of 1982 began and ended. What precipitated the crisis? What brought about an end to the crisis?
What will be an ideal response?
In response to a positive technology shock, which prediction of the sticky price model is difficult to reconcile with the data?
A) Output increases. B) Employment decreases. C) The price level decreases. D) Money is procyclical.