Those who favor an active approach to policy and those who favor a passive approach disagree not ...

Those who favor an active approach to policy and those who favor a passive approach disagree not only on how quickly the government can act but also on how stable the economy basically is.
a. True
b. False
Indicate whether the statement is true or false

QUESTION 2

Advocates of an active approach think that only when unemployment is high, the natural adjustments of wages and prices can be effective.
a. True
b. False
Indicate whether the statement is true or false

QUESTION 3

The country of Erbia has been experiencing high unemployment over a period of seven years. A likely outcome of such a situation is that potential GDP will fall.
a. True
b. False
Indicate whether the statement is true or false

QUESTION 4

The effectiveness lag for monetary policy is short.
a. True
b. False
Indicate whether the statement is true or false

QUESTION 5

An economy that self-corrects an expansionary gap will experience stagflation.
a. True
b. False
Indicate whether the statement is true or false

QUESTION 6

Passive macroeconomic policy would rely on natural market forces and automatic stabilizers to close an expansionary gap.
a. True
b. False
Indicate whether the statement is true or false

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Those who favor an active approach to policy and those who favor a passive approach disagree not ...

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