Ball's research on disinflation across different countries found that
A) costs of disinflation were smaller for rapid disinflation than for gradual disinflation.
B) costs of disinflation were larger for rapid disinflation than for gradual disinflation.
C) costs of disinflation were about the same for both rapid and gradual disinflation.
D) costs of disinflation were smaller when the central bank had a strong inflation-fighting reputation.
A
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A human resource such as ingenuity can be thought of as
A) part of government spending programs. B) part of a country's endowment. C) a causal factor for aggregate supply shifting left. D) a positive for imports.
The activist response to the monetarist platform says that
A) private spending may show some stability, but monetary or fiscal policy designed to stabilize it will just make things worse. B) private spending is stable partly because consumption spending is based on permanent income. C) even if prices are not completely flexible in the short-run, given time there is enough flexibility for the system to return to the natural level of real GDP. D) None of the above.