Of these policies, which is the best example of constrained discretion?
A) the annual federal budget deficit shall not exceed three percent of the GDP
B) the growth rate of the money supply shall be between two percent and five percent
C) macroeconomic policies shall promote rapid economic growth and low inflation
D) macroeconomic policies shall aim to keep inflation — on average over each five-year interval — within a range of two percent to four percent
D
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Left to their own, private markets tend to:
a. under-allocate resources to public goods. b. allocate the economically efficient amount of resources to public goods. c. over-allocate resources to public goods. d. produce no public goods.
If nonmarket work is a normal good, then an increase in income __________ the time allocated to __________
a. decreases; market work b. decreases; leisure c. increases; market work d. increases; leisure e. increases; nonmarket work