Which of the following questions is most likely to bring forth the same answer from each of 100 economists:
A) What role should government play in the economy?
B) How does the Fed go about changing the money supply?
C) Is it better to use monetary or fiscal policy to stabilize the economy at the current time?
D) What are the effects on the economy of expansionary fiscal policy?
E) b and d
B
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A plot of points representing the rate of inflation and the unemployment for the United States since 1953 reveals that
A) there does not appear to be any trade-off between the two variables. B) there is an inverse relationship between the two variables. C) there is a positive relationship between the two variables. D) none of the above.
Which of the following could contribute to cost-push inflation?
a. Greater demand for exports b. Lower income taxes c. An increase in consumption demand d. Higher government spending e. Higher wage demands by trade unions