When It Comes to Macro-Policy, Most Economists Now Agree That

question 133

Multiple Choice

When it comes to macro-policy, most economists now agree that

• A) policy should be constantly changing in response to business cycle conditions.
• B) policy changes should exert stimulus during inflationary booms and restraint during downturns.
• C) given our ability to forecast economic conditions, policy changes easily can be implemented in a timely manner.
• D) policy changes are difficult to time correctly, and therefore constant shifts in policy are likely to be a source of economic instability.

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Definitions:

Domestic-Born Workers

Individuals born in their country of residence who participate in the workforce of that country.

Economic Immigration

The movement of individuals from one country to another for the purpose of seeking employment or better economic opportunities.

Human Capital

The collective skills, knowledge, and abilities of individuals that can be used to create economic value.

Illegal Immigration

The act of migrating into a country in violation of its immigration laws, often sparking complex social and economic debates.