The Six Debates Over Macroeconomic Policy Exist Mostly Because

question 1

Multiple Choice

The six debates over macroeconomic policy exist mostly because

• A)economists disagree over basic issues such as the importance of saving for economic growth.
• B)there are tradeoffs and people disagree about the best way to deal with them.
• C)politicians offer misleading information.
• D)people fail to clearly see the benefits or the costs of most changes.

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Definitions:

Novation

The act of replacing an obligation to perform with a new obligation or replacing a party to an agreement with a new party.

Discharging Contract

Discharging a contract refers to the process by which parties are released from their obligations under the contract, for reasons such as fulfillment of the contract terms, mutual agreement, or impossibility of performance.

Third Party

An entity that is not directly involved in a transaction or agreement but may be affected by it or have an interest in it.

Obligee

The party in a contract who is entitled to receive a performance or service from another party (the obligor).