"To rational-expectations economists, it makes no difference whether we think in terms of the short run or the long run: Government cannot reduce the rate of unemployment, period." Explain.
Answer to relevant Questions"The Fed should just increase the money supply at the same rate that the full-employment econ omy grows, and the government should desist from any stabilizing urges." What school of thought would make such a suggestion, and ...Explain why each of the following is either a private good or a public good: traffic lights, in line skates, a city park, a chicken salad sandwich, a tennis racket, national defense, a coastal lighthouse. Imagine two government budgets, each $100. The first allocates $50 to the provision of public goods and $50 to transfer payments. The other allocates $75 to the provision of public goods and $25 to transfer payments. If GDP ...Some economists believe that the public debt may be detrimental to the economy's growth. Explain. The Irish complain that they never got a chance to make automobiles because the English, their major trading partner, are more experienced and therefore more efficient at it. Would-be Irish automakers ask their government to ...
Post your question