Macroeconomics Private and Public Choice

In the twentieth century, fluctuations in real GDP were

If the monetary authorities follow policies that keep the annual rate of inflation steady and low (for example, 2 percent), which of the following is most likely to occur?

Economic analysis suggests that countercyclical macro-policy will

Under the adaptive expectations hypothesis, how will a shift to a more expansionary monetary policy affect the economy?

The adaptive expectations hypothesis implies that people

The index of leading indicators is

Under the rational expectations hypothesis, which of the following is the most likely short-run effect of a move to expansionary monetary policy?

Why did many economists during the 1960s and 1970s believe that expansionary macroeconomic policy that resulted in inflation would reduce the rate of unemployment?

Which of the following is an implication of the modern view of the Phillips curve?

Most economists believe that

Which of the following is true regarding economic fluctuations in the United States?

During the 1900-1950 period,

Prior to World War II,

If monetary and fiscal policy are going to promote economic stability, they must _________ during a recession, and _________ during an economic boom. (Fill in the blank)

Activists and nonactivists both believe that

Activists believe that

Which one of the following accurately states the view of activists who favor discretionary stabilization policy?

Which of the following best reflects the nonactivist view of stabilization policy?

Regarding the issue of economic stability, nonactivists believe that

Which of the following is a major area of disagreement between activists and nonactivists?