Most Economists Agree That the Long-Term Goal of Monetary Policy

question 144

True/False

Most economists agree that the long-term goal of monetary policy is keeping interest rates as low as possible.

Comprehend the concept and formulation of null and alternative hypotheses.

Distinguish between the decision outcomes in hypothesis testing (true positive, true negative, false positive, false negative).

Examine the relationship between the level of significance and error types.

Realize the impact of changing the level of significance on the probabilities of committing Type I and Type II errors.