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During the ________ output ________ its natural level.A) late 1990s, exceededB) 1960s, deviated ...
During the ________ output ________ its natural level.A) late 1990s, exceededB) 1960s, deviated ...
During the ________ output ________ its natural level.
A) late 1990s, exceeded
B) 1960s, deviated relatively little from
C) early 1980s, tended to exceed
D) all of the above
bedau   26   1 Reply
8 hours ago
During the ________ output tended to exceed its natural level and inflation ________.A) late 1980s, ...
During the ________ output tended to exceed its natural level and inflation ________.A) late 1980s, ...
During the ________ output tended to exceed its natural level and inflation ________.
A) late 1980s, accelerated
B) 1990s, accelerated
C) 1960s and early 1970s, accelerated
D) early 1980s, decelerated
bedau   23   1 Reply
8 hours ago
Which of the following changes should make activist policy makers more confident in their capacity ...
Which of the following changes should make activist policy makers more confident in their capacity ...
Which of the following changes should make activist policy makers more confident in their capacity to make good policy recommendations?
A) structural change in the economy
B) changes in multipliers
C) a longer estimated lag for monetar
bedau   14   1 Reply
8 hours ago
Compared to the 1960s, the effectiveness lag is ________ due to ________.A) shorter, changes in ...
Compared to the 1960s, the effectiveness lag is ________ due to ________.A) shorter, changes in ...
Compared to the 1960s, the effectiveness lag is ________ due to ________.
A) shorter, changes in fiscal policy
B) longer, structural changes in the economy
C) shorter, deregulation
D) longer, increased sensitivity of consumer spen
Scribs   4   1 Reply
8 hours ago
Which of the following types of economic data are revised over time as government data collection ...
Which of the following types of economic data are revised over time as government data collection ...
Which of the following types of economic data are revised over time as government data collection agencies receive more complete information?
A) interest rates
B) employment
C) stock prices
D) all of the above
bedau   4   1 Reply
8 hours ago
The widespread, but not universal, consensus among economists would be to respond toA) an adverse ...
The widespread, but not universal, consensus among economists would be to respond toA) an adverse ...
The widespread, but not universal, consensus among economists would be to respond to
A) an adverse supply shock with an accommodating policy.
B) an adverse supply shock with an extinguishing policy.
C) an adverse demand shock with a po
★ѕραη∂αυєя★   4   1 Reply
8 hours ago
The Fed's interest rate response to the rising output ratio experienced from 1997 to 1999 is ...
The Fed's interest rate response to the rising output ratio experienced from 1997 to 1999 is ...
The Fed's interest rate response to the rising output ratio experienced from 1997 to 1999 is explained by
A) beneficial supply shocks which pushed down the inflation rate.
B) the Fed's efforts to help end the Asian financial crisi
Scribs   4   1 Reply
8 hours ago
Gordon's plots of the effectiveness lags of monetary policy over the periods 1961-1975, 1976-1990, ...
Gordon's plots of the effectiveness lags of monetary policy over the periods 1961-1975, 1976-1990, ...
Gordon's plots of the effectiveness lags of monetary policy over the periods 1961-1975, 1976-1990, and 1991-2007 show the effectiveness lags have become ________ and the overall response of GDP to monetary policy has ________.
A) shorter, d
bedau   4   1 Reply
8 hours ago
David and Christian Romer's estimate of monetary policy's current effectiveness lag, defined as ...
David and Christian Romer's estimate of monetary policy's current effectiveness lag, defined as ...
David and Christian Romer's estimate of monetary policy's current effectiveness lag, defined as the time necessary for a policy change to have one-half its ultimate effect on GDP, is approximately ________ months.
A) 2
B) 6
C
bedau   4   1 Reply
8 hours ago
Monetary policy has one clear advantage over fiscal policy by virtue of its very shortA) data lag.B) ...
Monetary policy has one clear advantage over fiscal policy by virtue of its very shortA) data lag.B) ...
Monetary policy has one clear advantage over fiscal policy by virtue of its very short
A) data lag.
B) data and recognition lags.
C) legislative and transmissions lags.
D) effectiveness lag.
Scribs   4   1 Reply
8 hours ago
The longest lag monetary policy suffers is the ________ lag.A) dataB) recognitionC) legislativeD) ...
The longest lag monetary policy suffers is the ________ lag.A) dataB) recognitionC) legislativeD) ...
The longest lag monetary policy suffers is the ________ lag.
A) data
B) recognition
C) legislative
D) transmission
E) effectiveness
Scribs   5   1 Reply
8 hours ago
Economists who really do want to take discretion away from the Fed, by imposing rules on ________, ...
Economists who really do want to take discretion away from the Fed, by imposing rules on ________, ...
Economists who really do want to take discretion away from the Fed, by imposing rules on ________, face the problem of ________.
A) policy instruments, the Fed requiring discretion to adhere to the rule
B) policy instruments, slippages betw
bedau   5   1 Reply
8 hours ago
A clear-cut "rules versus discretion" debate is no longer possible because those ...
A clear-cut "rules versus discretion" debate is no longer possible because those ...
A clear-cut "rules versus discretion" debate is no longer possible because those economists advocating rules for ________, such as ________, must leave the Fed with plenty of discretionary power.
A) policy instruments, the money supply
bedau   5   1 Reply
8 hours ago
What is the only policy instrument the Fed really can control directly and precisely?A) short-term ...
What is the only policy instrument the Fed really can control directly and precisely?A) short-term ...
What is the only policy instrument the Fed really can control directly and precisely?
A) short-term interest rates
B) the money supply
C) high-powered money
D) corporate tax rates
bedau   5   1 Reply
8 hours ago
Monetarists believe that there is a ________ link between money supply growth and target variables ...
Monetarists believe that there is a ________ link between money supply growth and target variables ...
Monetarists believe that there is a ________ link between money supply growth and target variables and that the public is ________ in movements in the money supply.
A) strong, interested
B) strong, disinterested
C) tenuous, interested
★ѕραη∂αυєя★   4   1 Reply
8 hours ago
The Canadian experience with inflation and unemployment in the early 1990s has this to say about ...
The Canadian experience with inflation and unemployment in the early 1990s has this to say about ...
The Canadian experience with inflation and unemployment in the early 1990s has this to say about policy rules:
A) A central bank independent of political pressure may thereby not be serving the public's politically-revealed preferences.
★ѕραη∂αυєя★   5   1 Reply
9 hours ago
"Monetarism" advocates a monetary policyA) at the full discretion of the Fed.B) that ...
"Monetarism" advocates a monetary policyA) at the full discretion of the Fed.B) that ...
"Monetarism" advocates a monetary policy
A) at the full discretion of the Fed.
B) that fixes the growth rate of money.
C) that fixes a constant short-term interest rate.
D) that fixes the growth rate of real GDP.
E)
bedau   5   1 Reply
9 hours ago
Which of the following caused pre-1984 volatility in residential construction?A) financial ...
Which of the following caused pre-1984 volatility in residential construction?A) financial ...
Which of the following caused pre-1984 volatility in residential construction?
A) financial regulations
B) tax cuts
C) currency volatility
D) interest rates
★ѕραη∂αυєя★   4   1 Reply
9 hours ago
Sources of reduced volatility of demand shocks include all of the following EXCEPTA) smaller ups and ...
Sources of reduced volatility of demand shocks include all of the following EXCEPTA) smaller ups and ...
Sources of reduced volatility of demand shocks include all of the following EXCEPT
A) smaller ups and downs of military spending.
B) residential construction.
C) inventory changes.
D) saving rates.
bedau   3   1 Reply
9 hours ago
Which of the following countries experienced the sharpest fiscal contraction in order to gain ...
Which of the following countries experienced the sharpest fiscal contraction in order to gain ...
Which of the following countries experienced the sharpest fiscal contraction in order to gain admission to the Euro club?
A) Portugal
B) Spain
C) Italy
D) France
Scribs   3   1 Reply
9 hours ago
Admission to the Euro required in 1997 that a country's government debt not exceed ________ percent ...
Admission to the Euro required in 1997 that a country's government debt not exceed ________ percent ...
Admission to the Euro required in 1997 that a country's government debt not exceed ________ percent of GDP.
A) seven
B) fifteen
C) twenty-five
D) sixty
bedau   4   1 Reply
9 hours ago
Admission to the Euro required in 1997 that a country's government deficit not exceed ________ ...
Admission to the Euro required in 1997 that a country's government deficit not exceed ________ ...
Admission to the Euro required in 1997 that a country's government deficit not exceed ________ percent of GDP.
A) twenty
B) fourteen
C) seven
D) three
Scribs   6   1 Reply
9 hours ago
"Inflation Targeting Rule" is a special case of aA) Taylor Rule with zero weight on ...
"Inflation Targeting Rule" is a special case of aA) Taylor Rule with zero weight on ...
"Inflation Targeting Rule" is a special case of a
A) Taylor Rule with zero weight on output.
B) Taylor Rule with zero weight on inflation.
C) Taylor Rule with an equal weight on output and inflation.
D) Taylor Rule with
bedau   5   1 Reply
9 hours ago
In Taylor Rule equation, high value of parameter b indicates thatA) Fed cares more about avoiding ...
In Taylor Rule equation, high value of parameter b indicates thatA) Fed cares more about avoiding ...
In Taylor Rule equation, high value of parameter b indicates that
A) Fed cares more about avoiding recessions and high unemployment than about avoiding inflation.
B) Fed cares more about avoiding inflation than about avoiding recessions and
★ѕραη∂αυєя★   5   1 Reply
9 hours ago
In Taylor Rule equation, high value of parameter a indicates thatA) Fed cares more about avoiding ...
In Taylor Rule equation, high value of parameter a indicates thatA) Fed cares more about avoiding ...
In Taylor Rule equation, high value of parameter a indicates that
A) Fed cares more about avoiding recessions and high unemployment than about avoiding inflation.
B) Fed cares more about avoiding inflation than about avoiding recessions and
Scribs   3   1 Reply
9 hours ago
Which of the following equations represent Taylor Rule?A) rFF = rFF* - a(p – p*) - b B) rFF = rFF* ...
Which of the following equations represent Taylor Rule?A) rFF = rFF* - a(p – p*) - b B) rFF = rFF* ...
Which of the following equations represent Taylor Rule?
A) rFF = rFF* - a(p – p*) - b
B) rFF = rFF* + a(p – p*) + b
C) rFF = rFF* - a(p – p*) + b
D) rFF = rFF* + a(p + p*) + b
bedau   3   1 Reply
9 hours ago
Some people support the Euro in hopes that the European Central Bank will emulate the monetary ...
Some people support the Euro in hopes that the European Central Bank will emulate the monetary ...
Some people support the Euro in hopes that the European Central Bank will emulate the monetary policy of the central bank of
A) Germany.
B) France.
C) Italy.
D) Spain.
bedau   3   1 Reply
9 hours ago
Among the prospective rules that set target variables directly, only the nominal GDP ruleA) provides ...
Among the prospective rules that set target variables directly, only the nominal GDP ruleA) provides ...
Among the prospective rules that set target variables directly, only the nominal GDP rule
A) provides a nominal anchor.
B) is easy for the Fed to achieve.
C) allows a neutral response to a supply shock.
D) is insulated from the ef
Scribs   3   1 Reply
9 hours ago
Which of these policy rule variables does NOT have the disadvantage of being hard to control?A) ...
Which of these policy rule variables does NOT have the disadvantage of being hard to control?A) ...
Which of these policy rule variables does NOT have the disadvantage of being hard to control?
A) nominal GDP growth
B) high-powered money
C) the unemployment rate
D) the inflation rate
★ѕραη∂αυєя★   3   1 Reply
9 hours ago
The advantage of a nominal anchor is that it prevents a limitless rise in theA) national debt.B) ...
The advantage of a nominal anchor is that it prevents a limitless rise in theA) national debt.B) ...
The advantage of a nominal anchor is that it prevents a limitless rise in the
A) national debt.
B) nominal interest rate.
C) inflation rate.
D) unemployment rate.
Scribs   3   1 Reply
9 hours ago
Which of these policy targets does NOT provide a "nominal anchor?"A) high-powered ...
Which of these policy targets does NOT provide a "nominal anchor?"A) high-powered ...
Which of these policy targets does NOT provide a "nominal anchor?"
A) high-powered money
B) the unemployment rate
C) the money supply
D) the inflation rate
Scribs   3   1 Reply
9 hours ago
Compared to the previous three decades, after 1982 recessions have been ________ and expansions have ...
Compared to the previous three decades, after 1982 recessions have been ________ and expansions have ...
Compared to the previous three decades, after 1982 recessions have been ________ and expansions have been ________ .
A) longer, longer
B) shorter, shorter
C) longer, shorter
D) shorter, longer
Scribs   3   1 Reply
9 hours ago
The shortest lag monetary policy faces isA) data.B) recognition.C) transmission.D) legislative.
The shortest lag monetary policy faces isA) data.B) recognition.C) transmission.D) legislative.
The shortest lag monetary policy faces is
A) data.
B) recognition.
C) transmission.
D) legislative.
Scribs   3   1 Reply
9 hours ago
Twenty-four months after a 1 percentage point increase in the short-term (Treasury bill) interest ...
Twenty-four months after a 1 percentage point increase in the short-term (Treasury bill) interest ...
Twenty-four months after a 1 percentage point increase in the short-term (Treasury bill) interest rate, real GDP have fallen by about ________ in 1961-75, by ________ during 1976-1990, and by ________ during 1991-2007 period. 88-2004.
A) 2%, 1%,
Scribs   3   1 Reply
9 hours ago
In the past twenty years the economy's responsiveness to monetary policy has becomeA) weaker and ...
In the past twenty years the economy's responsiveness to monetary policy has becomeA) weaker and ...
In the past twenty years the economy's responsiveness to monetary policy has become
A) weaker and more stretched out.
B) weaker and shorter.
C) stronger and more stretched out.
D) stronger and shorter.
Scribs   3   1 Reply
9 hours ago
Even a monetary policy based on a rigid high-powered money growth rate rule can lack policy ...
Even a monetary policy based on a rigid high-powered money growth rate rule can lack policy ...
Even a monetary policy based on a rigid high-powered money growth rate rule can lack policy credibility, due in part to ________, while a policy that targets the inflation rate itself ________.
A) lags, must have policy credibility by definition
Scribs   3   1 Reply
9 hours ago
Central banks that are relatively free from political interference, and are thus ________ likely to ...
Central banks that are relatively free from political interference, and are thus ________ likely to ...
Central banks that are relatively free from political interference, and are thus ________ likely to be time inconsistent, generally have a ________ record of achieving low inflation.
A) more, better
B) more, worse
C) less, better
bedau   3   1 Reply
9 hours ago
By refusing to be time inconsistent, a central bank is ________ its reputation and ________ ...
By refusing to be time inconsistent, a central bank is ________ its reputation and ________ ...
By refusing to be time inconsistent, a central bank is ________ its reputation and ________ "policy credibility."
A) harming, losing
B) harming, gaining
C) investing in, losing
D) investing in, gaining
bedau   4   1 Reply
9 hours ago
Draw two SP curves intersecting LP; call the upper intersection point A and the lower point B. The ...
Draw two SP curves intersecting LP; call the upper intersection point A and the lower point B. The ...
Draw two SP curves intersecting LP; call the upper intersection point A and the lower point B. The Fed promises to reduce inflation while maintaining natural unemployment. If the public believes the Fed, the economy moves from ________. Then if the F
bedau   5   1 Reply
9 hours ago
The "time inconsistency" argument is that a downward shift of the short-run Phillips ...
The "time inconsistency" argument is that a downward shift of the short-run Phillips ...
The "time inconsistency" argument is that a downward shift of the short-run Phillips Curve, which comes about with a ________ of inflationary expectations, is more likely when monetary policy ________.
A) lowering, follows a rigid rule
Scribs   5   1 Reply
9 hours ago
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