Most Economists Now Accept the Proposition That

question 95

Multiple Choice

Most economists now accept the proposition that
1) to reduce the long-run rate of inflation there must be a sustained monetary contraction;
2) monetary policy should be aimed at controlling the inflation rate in the long run, with a short -run focus on reducing output gaps;
3) high inflation, even if it is largely expected, can generate significant costs for the economy.

• A) 1 only
• B) 2 only
• C) 3 only
• D) 2 and 3
• E) 1, 2 and 3

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Definitions:

New York Longitudinal Study

The New York Longitudinal Study is a research project that tracked the developmental characteristics of children from infancy into adulthood to understand personality development.

Temperaments

The combination of mental, physical, and emotional traits of a person; often considered innate or inherent to one's character.

Infants

refer to young children in the earliest stage of their lives, typically considered to be from birth to one year old.

Insecure-resistant/Ambivalent

A form of attachment characterized by anxiety and uncertainty in relationships, where individuals are overly needy or clingy.