Multiple Choice
The original work on the application of the time inconsistency problem in macroeconomics is due to
A) Milton Friedman and Robert Lucas.
B) Michael Hutchinson and Carl Walsh.
C) Finn Kydland and Edward Prescott.
D) Robert Barro and Donald Gordon.
Correct Answer:
Verified
Correct Answer:
Verified
Q2: Time inconsistency means<br>A) taking different decisions at
Q3: The fact that private sector economic agents
Q4: The rational expectations hypothesis means that<br>A) economic
Q5: The idea that economic agents do not
Q6: A Phillips curve is<br>A) the correlation between
Q7: In the Friedman-Lucas money surprise model,a surprise
Q8: In the Friedman-Lucas money surprise model<br>A) productivity
Q9: A predominant view among Federal Reserve officials
Q10: The Phillips curve shifts because<br>A) private behavior
Q11: The Phillips curve shifts because<br>A) fiscal policy