Sound economic policy is policy that is consistent with
a. good intentions.
b. quick action and frequent policy changes until positive results are achieved.
c. monetary stability, free trade, and low tax rates.
d. saving jobs, protecting domestic industry, and increasing tax revenue.
C
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If the unemployment rate for whites was 5%, then the unemployment rate for blacks would be around
A. 3%. B. 5%. C. 7%. D. 10%. E. 15%.
The point at which the burden of a tax ultimately rests is known as the
a. effect of the tax. b. impact of the tax. c. incidence of the tax. d. direction of the tax.
Output and inflation movements can arise from either demand or supply shifts. How can we tell them apart?
What will be an ideal response?
The idea that a large national debt is "mortgaging the future of our children and grandchildren" is misleading because:
A. it is the Federal Reserve that will be responsible for making interest payments on the debt. B. future generations will have to bear the opportunity costs of the resources that are used today. C. future generations will not be liable for the interest obligations of the national debt. D. future generations will inherit the interest income as well as the interest obligations.