A "easy" money, tight "fiscal" policy combination will be preferred by society which values
A) low growth rates, but more goods and services in the future.
B) public goods today greater than private goods in the future.
C) private goods today more than public goods in the future.
D) public and private goods in the future more than public and private goods today.
D
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The market-friendly approach to development emphasizes
a. self-interested behavior of public officials in LDCs. b. the dependence of LDCs on former colonial powers. c. the inherent efficiency of markets in developing countries. d. that markets in LDCs fail sometimes and selective interventions can promote economic development.
As a result of the pay-as-you-go nature of Social Security financing, the continuation of benefit payments is dependent upon _____
a. new individuals entering the system b. the current tax level c. current economic growth rates d. the Baby Boomer's decision on when to retire
If GDP is expected to increase at a steady rate of 3% per year, how many years would it take for living standards to double?
a. 10 b. 20 c. 24 d. 30
In the real world, most economic systems are:
a. market economies. b. command economies c. mixed economies. d. traditional economies.