Swiss Attempts to Target Monetary Aggregates Ended in the 1990s

question 15

Multiple Choice

Swiss attempts to target monetary aggregates ended in the 1990s because ________.

• A)the expectations of Swiss households had evolved from being adaptive to rational
• B)structural changes in the economy had rendered existing practices inflationary
• C)of the resulting increase in interest rates
• D)the ensuing deflation increased the real value of debt held by Swiss manufacturing firms

Recognize the tragedy of the commons and overuse of common resources.

Analyze the impact of strategic behavior on market outcomes, including advertising and inter-firm competition.

Understand the concept of Nash equilibrium in games involving externality effects.

Calculate the socially optimal levels of production or consumption in the presence of externalities.

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Definitions:

Craft Unions

Labor organizations that represent workers in a specific trade or craft, focusing on skills and qualifications unique to that craft as the basis for membership.

Jurisdictional Fights

Conflicts between different unions or sections of unions over the right to represent a certain group of workers or perform specific job tasks.

Open Shop Movement

An effort to ensure that employment and retention do not depend upon whether the worker is a member of a labor union or not.

Unionized

Referring to workers or workplaces that are organized into and represented by a labor union.