The problem with a detailed budget is:
a. that monetary policy becomes more difficult to implement.
b. that it reduces the flexibility of discretionary fiscal policy.
c. that the Congress cannot keep it up to date.
d. that there is a shortage of congressional committees which deal with the budget.
b
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To determine whether the goal of stable prices is being achieved, the Federal Reserve monitors
A) the core PCE deflator inflation rate. B) the core GDP deflator inflation rate. C) the GDP price deflator. D) the producer price index. E) the CPI.
The figure above shows Sam's budget line. Which of the following would result in Sam's budget line rotating outward and not changing its horizontal intercept?
A) a fall in the price of a pound of coffee B) a rise in the price of a pound of coffee C) a fall in the price of a gallon of gasoline D) a rise in the price of a gallon of gasoline