Describe why monetary policy rules are superior to discretionary monetary policy.
What will be an ideal response?
Question 2
The Ironman Hawaii randomly draws a few hundred slots from thousands of applicants for the race.
The method of allocation for the opportunity to participate in the race is ________, and the method of allocation for determining the winner of the race is ________. A) lottery; contest
B) contest; lottery
C) first-come, first-served; lottery
D) lottery; first-come, first-served
E) contest; command