The Time Inconsistency Problem Means That Policy Makers Are Always

question 54

Multiple Choice

The time inconsistency problem means that policy makers are always tempted to pursue ________ policy in the short run.

• A) expansionary
• B) contractionary
• C) inconsistent
• D) non-discretionary

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Definitions:

Wrongful Discharge

The unjust termination of an employee's contract of employment in violation of legal or contractual terms.

Progressive Discipline Policy

A system of discipline where the penalties increase upon repeat occurrences of misconduct.

Written Warning

A documented notice of violation or misconduct, typically given by an employer to an employee as part of disciplinary procedures.

NLRB

The National Labor Relations Board, an independent agency in the United States responsible for enforcing US labor law in relation to collective bargaining and unfair labor practices.