Goal independence is the ability of ________ to set monetary policy ________
A) the central bank; goals
B) Congress; goals
C) Congress; instruments
D) the central bank; instruments
A
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Archibald's Tattoos is a perfectly competitive firm. The firm's costs are shown in the table above. If the market price of a tattoo is $12.50 what is the firm's economic profit?
A) zero B) $10 per hour C) -$10 per hour D) $20 per hour
If the market supply increases and, simultaneously, market demand decreases, the new equilibrium will show:
a. market price will decrease, and market quantity exchanged could increase, decrease, or remain unchanged. b. market price will increase, and market quantity exchanged will decrease. c. market price will increase, and the quantity exchanged could increase, decrease, or remain the same. d. market price could increase, decrease, or remain the same, and quantity exchanged will increase. e. market price will increase, decrease, or remain the same, and quantity exchanged will decrease.