Answered: 3. Activists and nonactivists both…

Principles of Economics, 7th Edition (MindTap Course List)

7th Edition

ISBN:9781285165875

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter36: Six Debates Over Macroeconomic Policy

Section: Chapter Questions

Problem 3QCMC

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Activists and nonactivists both believe that

Group of answer choices

-the self-corrective mechanism of a market economy works quite well.

macro-policy should seek to minimize economic fluctuations, keep the -----inflation rate low, and establish an environment consistent with strong economic growth.

-discretionary monetary and fiscal policy can be used successfully to speed the adjustment process and reduce the swings of the business cycle.

-policies that stimulate aggregate demand can reduce the long-term rate of unemployment.

Which of the following is correct?

Definition Definition Increase in the amount of goods and services produced by a country in a given period of time compared to an earlier period. Economic growth is generally coupled with a rise in national income or the purchasing power of individuals. It is often measured in terms of the increase in a country's gross domestic product (GDP), or the overall monetary value of all the complete or final services and goods that a country can produce within its domestic boundaries in a specific period.

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