Fiscal policy takes _____ to implement than monetary policy because ______.
a. a longer time; the FOMC meets much more often than Congress
b. a longer time; Congress must debate and agree on the action
c. a shorter time; Congress meets much more often than the FOMC
d. a shorter time; the FOMC cannot act without congressional approval
b. a longer time; Congress must debate and agree on the action
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If disposable income falls, consumption expenditure falls ________
A) by an amount that depends on the real interest rate B) so that planned expenditure remains constant C) by an amount smaller than the decrease in disposable income D) all of the above E) none of the above
The primary effect of an inheritance tax is _____
a. to encourage the liquidation of assets b. provide significant government revenue c. encourage capital formation d. the encouragement of pre-death asset transfers
The following types of statistical inference are used throughout econometrics, with the exception of
A) confidence intervals. B) hypothesis testing. C) calibration. D) estimation.
For an intertemporal budget constraint concerning saving for retirement, the choice is between present consumption and future consumption.
a. Fungible b. Utility-maximizing c. Intertemporal choice d. Backward-bending