Constitutional economists
A) assert that within a given set of institutions, constraints, laws and rules, outcomes might be the same no matter who is elected to office.
B) study the type of constraints that individuals might seek to place upon themselves in order to achieve some objective that doesn't seem achievable in a non-constrainable environment.
C) assert that better outcomes arise from changing the political party in power at any given point in time than from changing institutions and constraints.
D) b and c
E) a and b
E
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Suppose the actual equilibrium federal funds rate is above the rate implied by a particular inflation goal. In this situation, the Taylor rule implies that
A) monetary policy is contractionary. B) monetary policy is expansionary. C) fiscal policy is expansionary. D) fiscal policy is contractionary.
The above figure shows the production possibility frontier for a country. What is the opportunity cost to move from point D to point B?
A) 12 tons of rice B) 15 thousand bottles of wine C) 6 thousand bottles of wine D) 9 thousand bottles of wine E) Nothing, it is a free lunch.
In 2009, household spending was the smallest component of total spending in the U.S. economy
a. True b. False Indicate whether the statement is true or false
The model: Yt =
0 + 1ct + ut, t = 1,2,……., n is an example of a(n):
A. autoregressive conditional heteroskedasticity model. B. static model. C. finite distributed lag model. D. infinite distributed lag model.