Economists Predict the Business Cycle Well Enough That Stabilization Policy

question 153

True/False

Economists predict the business cycle well enough that stabilization policy is likely to work despite lags in the effects of policy.

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Definitions:

English

A West Germanic language originating from England, now the primary language of international discourse and an official language in several countries worldwide.

Oliver Cromwell

A military and political leader who played a leading role in the English Civil War and ruled as Lord Protector of the Commonwealth of England, Scotland, and Ireland in the mid-17th century.

Commercialism

The emphasis on maximizing profit through advertising and market exploitation, often at the expense of quality or ethics.

Expanding Territory

The process by which a country or state increases its land area through colonization, military conquest, or other means.