Lags in the policy-making process come from:
A. the time it takes for policy to have an impact on the economy.
B. the process of deciding on and passing legislation.
C. lack of understanding the current state of the economy.
D. All of these are true.
Answer: D
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Some say the ECB draws too heavily on the German model. What is its major focus?
A) reliance on the ability of the European parliament to engage in fiscal policy when necessary B) the notion that the economy needs monetary stimulus to weather frequent recessions C) that the unemployment problem, especially in Eastern Europe, should take priority over price stability D) that price stability (low inflation) is the primary policy goal, separated from political influence or having to address regional economic slowdowns
Greg and Todd form a partnership and start a business in which each has a 50 percent share of the profit. After a year, the firm goes bankrupt and has debts of $20,000. Greg has no money, but Todd has $25,000 in the bank
Todd must pay ________ of debt. A) $0 because in a partnership each partner must pay the same B) $0 because partners in a partnership have limited liability C) half, or $10,000 D) $20,000