The "effectiveness lag" in monetary policy is the amount of time it takes
A) to collect the data to determine if a policy change is required.
B) for monetary policy to have an impact on inflation and unemployment.
C) for monetary policy to affect the money supply.
D) to collect the data to determine what effect monetary policy has had on the economy.
B
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Which of the following is TRUE regarding the labor market?
I. The labor supply curve slopes upward because firms maximize profits as they hire more workers. II. If the real wage rate falls, the quantity of labor firms demand increases. III. The demand for labor curve slopes downward because as the real wage rate falls, workers demand to work fewer hours. A) I and II B) I and III C) II only D) I, II and III
To attract more bidders, and more aggressive bidders, to your common-value auction
a. withhold relevant information about the value of the object b. allow bidders to know how others are bidding c. do not allow potential bidders to examine the object too closely d. do not hold oral auctions