The Federal Reserve:
A. is the central bank of the United States.
B. sets the budget for the U.S. government.
C. is appointed by the president of the United States.
D. is responsible for funding federal spending.
A. is the central bank of the United States.
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The arguments of Friedman and Phelps would suggest that other things the same, a country that pursues a disinflationary policy that the public does not find completely credible
a. should not see an increase in the unemployment rate even in the short run. b. will having rising unemployment for a while, but then return to the natural rate of unemployment. c. will have a permanently higher unemployment rate. d. None of the above is suggested by the arguments of Friedman and Phelps.
Why are economic theories and principles imprecise? Shouldn’t they apply to everyone?
Please provide the best answer for the statement.