100 POINTS “Because policymakers cannot be trusted to do what they say, monetary policy should be set by rules that limit the discretion of policymakers. And because monetary policy works only with a long lag, a passive policy should be preferred to an active one.” In a brief essay, discuss why a reasonable person might come to these conclusions. Why are policymakers tempted to go back on their word? How might you design rules to improve the policymakers’ performance?

Which statement best describes lymph? a. a clear fluid that carries proteins, water, white blood cells, fat, dead cells, and toxins that drain from the fluid between the cells of the body b. a clear fluid in the cells that to secrete and transport hormones from one region of the body to another c. a thick, opaque, and yellowish fluid that is present when there is an infection in the body d. a clear, liquid component of blood that contains red blood cells, white blood cells, platelets, and iron