The Great Moderation Consensus Among Macroeconomists Is Described by All

question 199

Multiple Choice

The Great Moderation consensus among macroeconomists is described by all of the following EXCEPT that:

• A)monetary policy should play the main role in stabilization policy.
• B)the central bank should be independent of politics.
• C)discretionary fiscal policy should be used sparingly.
• D)monetary policy is the only way to get out of the liquidity trap.

---

Definitions:

Jones And Davis

A theory proposing that people infer the intentions and dispositions of others based on observed behaviors and the consequences of those behaviors.

Kelley's Attribution Theory

A theory suggesting that individuals make sense of their social world by attributing causes to their own and others' behavior, focusing on consistency, distinctiveness, and consensus.

High Distinctiveness

A term in social psychology referring to the extent to which an individual's behavior can be attributed to the circumstances rather than internal traits.

Situational Attribution

The process of attributing behavior to external or environmental factors, rather than internal characteristics.