It Is Important for Policymakers to Recognize That Most Macroeconomic

question 10

Multiple Choice

It is important for policymakers to recognize that most macroeconomic variables are characterized by

• A)long-run trends and short-run fluctuations.
• B)gradual increases over long periods of time.
• C)short-run fluctuations that need to be smoothed for a well-functioning economy.
• D)long-run economic growth.
• E)the impacts of the business cycle.

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Definitions:

Montesquieu

A French political philosopher of the Enlightenment who is best known for his theory of separation of powers, which has been incorporated into the constitution of many countries, including the United States.

Constitutionalism

The belief in limiting government power by law, ensuring a system of checks and balances within the state's framework to protect individuals' rights and liberties.

General Will

A concept in political philosophy, particularly associated with Jean-Jacques Rousseau, representing the collective interest or the common good that is in the best interest of society as a whole.

Natural Rights

Fundamental human rights based on universal natural law, predating and regardless of legal systems or governments, such as life, liberty, and property.