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Which of the following is not an argument in favor of requiring monetary policy to be made by rule rather than by discretion? Question 25

Which of the following is not an argument in favor of requiring monetary policy to be made by rule rather than by discretion? Question 25 options: Monetary policymakers are now allowed undisciplined discretion. Rules would eliminate the political business cycle. There is a clear consensus among economists about what a good monetary policy rule would be. Rules would avoid time inconsistency

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