Social Security and Medicare are clear examples of

Differences in the stock of technology between nations are an example of a(n):

A) proximate cause of prosperity. B) implicit cause of prosperity. C) explicit cause of prosperity. D) fundamental cause of prosperity.

Discretionary monetary policy has the drawback that it

A) must lead to very high inflation. B) is currently illegal in the United States. C) makes inflation expectations harder to manage. D) cannot be implemented using changes in the federal funds rate. E) None of the above answers is correct.