Which of the following is an area of substantial agreement among macroeconomists?
a. Expansionary policies that lead to inflation can keep the actual rate of unemployment below the natural rate.
b. It is relatively easy to time shifts in monetary policy in a manner that will promote economic stability.
c. Price stability is a proper goal of monetary policy.
d. It is relatively easy to time shifts in fiscal policy in a manner that will promote economic stability.
C
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Something that affects the amount of money in existence will
A) affect all markets. B) have no particular effect. C) have an effect only if the change in money is large. D) not affect the economy as a whole but may affect certain key markets such as the market for loans.
Political freedom can sometimes moderately reduce economic growth because
A) campaign contributions rob the economy of investment. B) special interest groups may gain at the expense of the overall economy. C) most jobs are in unions that are politically connected. D) none of the above.
China's current rate of GDP growth is quite rapid. Its current growth rate is probably three times that of the United States. However, the levels of pollution are much higher in China
Would you consider China to be better off than the United States given this information? Why or why not?
Receiving a voucher for an apartment in a public housing project would be an example of a good that satisfies
A) the principle of rival consumption. B) the definition of a public good. C) the definition of a good with a positive externality. D) the nonexclusion principle.