The problem of lags suggests that monetary policy should
A) respond swiftly to statistical reports of economic conditions in the recent past.
B) respond to conditions expected to exist in the future.
C) stagger its implementation of policies so that there will be an ongoing effect on the economy.
D) not respond to changing economic conditions in the economy but instead rely on the economy's
self correcting mechanism.
Ans: B) respond to conditions expected to exist in the future.
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Group price discrimination results in social welfare that ________ under a single-price monopoly
A) is greater than B) is lower than C) is the same as D) might be greater or might be lower than
All of the following are associated with the War Industries Board except
a. the negotiation of the prices of key industrial products. b. developing and implementing the bulk line pricing system to determine industrial prices that maximized output. c. the unintended consequence of the "priorities inflation" of contracts. d. establishing and enforcing minimum wages for manufacturing workers.