Either a dual or hierarchial mandate is acceptable as long as ________ is the primary goal in the ________
A) price stability; short run
B) price stability; long run
C) reducing business-cycle fluctuations; short run
D) reducing business-cycle fluctuations; long run
B
Economics
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Which of the following is a condition for efficiency in the output market?
A) MRT = MPL/MPK B) The marginal rate of substitution is the same for all customers. C) The marginal rate of technical substitution must be the same for all producers. D) The marginal rate of transformation must equal the marginal rate of substitution.
Economics
Explain Gresham's Law
Economics