The implementation lag for monetary policy is _____ for monetary policy than fiscal policy; the lag before the full effects of monetary policy on inflation are felt is ____ than for its effects on real output and unemployment:

From the end of the World War II, the debt-GDP ratio in the United States fell almost without interruption to a low point in ________, which marked the beginning of a long-run climb

A) 1955 B) 1962 C) 1974 D) 1984 E) 1990

Economic systems differ according to which two main characteristics?

A. Who owns the factors of production and the methods used to coordinate economic activity. B. The technology used in production and the quantity and quality of natural resources. C. How goods are produced and who gets them. D. The political system in place and the degree of scarcity facing the economy.