Which of the following is NOT an argument of non-activists?
A) private spending may show some instability but monetary or fiscal policy designed to stabilize it will just make things worse
B) private spending is stable partly because consumption spending is based on permanent income
C) even if prices are not completely flexible in the short-run, given time there is enough flexibility for the system to return to the natural level of real GNP
D) it is true that monetary and fiscal policy have destabilizing in the past, but economic knowledge is now advanced enough to permit effective countercyclical policy
D
You might also like to view...
The World Trade Organization (WTO)
a. members are required to eliminate tariffs and customs duties b. supervises trade in merchandise and in services c. supervises merchandise trade only d. members are required to eliminate ad valorem tariffs but not specific tariffs e. includes all nations with populations greater than 10 million, with the exception of North Korea and Cuba
Control of a scarce resource or input can serve as an entry barrier.
Answer the following statement true (T) or false (F)
Monetarists believe that velocity
A) is constant. B) changes erratically. C) and the money supply always have an inverse relationship. D) changes in a way that can be understood and predicted.
Who is included in the labor force by the Bureau of Labor Statistics?
a. Tina, who worked most of the week in a steel factory b. Kelly, who is temporarily laid off but expects to be recalled c. DJ, who does not have a job but is looking for work d. All of the above are correct.