16. Which of the following business cycle models suggests that government should not intervene with monetary and fiscal policy?
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17. Monetarists advocate a very limited role for the government because they believe:
firms take time to adjust to systemic shocks to the economy.
government policies operate with a lag.
resource use is efficient.
18. According to the RBC model, which of the following most likely causes
Contractionary monetary policy.
Individuals who prefer leisure over consumption.
19. Which of the following concepts was covered by the Austrian school of thought, but not by the Neoclassical school of thought to explain the business cycle?
Interest for capital.
Money as a medium of exchange.
Wages paid to labor.
20. The Monetarists are least likely to criticize which of the following with respect to the Keynesian school of thought?
Keynesian model fails to recognize the importance of money supply.
Keynesian short term view fails to account for the long term costs of
Keynesian policies fail to stimulate the economy even in the short-term.
UGC NET PAPER 1
UGC NET Management
UGC NET COMPUTER SCIENCE
UGC NET COMMERCE
GATE COMPUTER SCIENCE
CFA Level 1
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