What are the tools available to governments to mitigate cycles of boom and bust? Why do these tools fail?
Some of the tools available to the government constitute what is called fiscal policy: control over taxes and government spending. Others come from monetary policy: control over money and interest rates. Fiscal and monetary policies sometimes fail?for both political and economic reasons. Policymakers do not always make the right decisions. And even when they do, the economy does not always react as expected. Furthermore, it is not always clear what the "right" decision is.
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________ wrote the Wealth of Nations.
A. Adam Smith B. David Ricardo C. Paul Samuelson D. Karl Marx
Recall the Application about finding estimates of elasticities of demand to answer the following question(s).According to the Application, ________ has a website that provides estimates of demand elasticities for hundreds of food products for dozens of countries.
A. the U.S. Department of Agriculture B. the U.S. State Department C. the United Nations D. the World Bank