If people expect economic fluctuations to be permanent and caused primarily by supply-side shifts, then the result is likely to be a positive relationship between the inflation rate and the unemployment rate

If elected officials prefer policy actions that make benefits available quickly while deferring costs, they will be inclined to favor

A) an easier monetary policy to counter recession. B) increased appropriations to provide jobs for unemployed workers. C) a wage and price freeze to control inflation. D) all of the above. E) none of the above.

The Federal Reserve System is the

A) insurance agency the insures deposits. B) central bank of the United States. C) law enforcement agency that tracks counterfeit money. D) federal government agency that undertakes deregulation for depository institutions.