Author Question: Which of the following is the most powerful argument for putting restraints on policy makers (as ... (Read 36 times)

anjilletteb · **on:** Jun 30, 2018

Which of the following is the most powerful argument for putting restraints on policy makers (as opposed to self-restraint by policy makers themselves)?

A) time inconsistency
B) uncertainty about Okun's coefficient
C) uncertainty about the natural rate of unemployment
D) uncertainty about the timing of policy impacts
E) disagreements about the proper structure of an econometric model

Question 2

Explain the different dimensions of technological progress.

What will be an ideal response?

ryansturges · **Reply #1 on:** Jun 30, 2018

Answer to Question 1

A

Answer to Question 2

There are several dimensions of technological progress: more output for a given amount of inputs, better products, new products, a larger variety of products.