Multiple Choice
Economist Abba Lerner compared the economy to a car needing:
A) An efficiency wage to make the labor markets work like an efficient engine
B) Regular price-level surprises, like oil changes, to make it run smoothly
C) A "steering wheel" that the government can use to guide it forward
D) A monetary rule to prevent a "backseat driver" from making it go off course
Correct Answer:
Verified
Correct Answer:
Verified
Q115: The mainstream view of the economy since
Q124: From a monetarist perspective, instability in the
Q125: Which monetarist idea has been absorbed into
Q128: According to mainstream economic analysis, a balanced-budget
Q130: In the strict monetarist view, a large
Q131: In the monetarist equation of exchange, MV
Q132: Monetarists would argue that the severe recession
Q134: If nominal GDP is $848 billion and
Q177: Rational expectations theory suggests that changes in
Q229: In the monetarist view, the economy is