One surprising insight from viewing policy as a "game" is that
A) central bankers should project an image of being conservative on economic policy matters, regardless of their personal views.
B) it is more difficult to control inflation when the central bank is highly independent.
C) uncertainty over the impact of policy makes little difference in designing an optimal policy.
D) money growth has little or no impact on inflation in the long run.
E) decreasing money growth may substantially increase the rate of inflation in the long run.
A
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In a __________ plan, employees may choose __________
A) defined benefit; the assets they invest in B) defined benefit; the benefits received during retirement C) defined contribution; the assets they invest in D) defined contribution; the benefits received during retirement
The resource market is important from a macroeconomic perspective because
a. it coordinates the allocation of productive resources and determines the costs of production. b. it determines the interest rates faced by borrowers and lenders. c. inflation rates are set in the resource market by the government. d. resource prices determine the position of the long-run aggregate supply curve.