Read the following extract about an aspect of the UK in 2013 and decide whether it is describing a short-run, medium-run or long-run policy challenge. 'The International Monetary Fund is advising the chancellor to defer the UK cuts programme and instead stimulate the faltering economy: hit the austerity pause button; invest more in social housing, schools and road repairs. Growth is more important right now than deficit reduction. Couched in suitably polite language, that was the uncomfortable message from the International Monetary Fund to George Osborne." State A, B or C A: Short-run B: Medium-run C: Long-run

Read the following extract about an aspect of the UK in 2013 and decide whether it is describing a short-run, medium-run or long-run policy challenge. 'The International Monetary Fund is advising the chancellor to defer the UK cuts programme and instead stimulate the faltering economy: hit the austerity pause button; invest more in social housing, schools and road repairs. Growth is more important right now than deficit reduction. Couched in suitably polite language, that was the uncomfortable message from the International Monetary Fund to George Osborne." State A, B or C A: Short-run B: Medium-run C: Long-run

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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