Explain why economists abandoned the Humphrey-Hawkins Act of 1978 as target policy
The Humphrey-Hawkins Act set policy targets for the unemployment rate and the inflation rate, which
economists believed were unrealistic. The Phillips curve trade-offs simply did not offer the alternative
proposed in the Act.
Economics
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Fiscal policy is the use of taxes and spending by the government to affect aggregate demand
a. True b. False Indicate whether the statement is true or false
Economics
If a "certificate of convenience and public necessity" protects a monopolist's position, the barrier to entry this firm relies on is called
A) a tariff. B) a government license. C) a patent. D) economies of scale.
Economics