When the LM curve is vertical,
A) fiscal policy has no impact on equilibrium income.
B) fiscal policy has no impact on the equilibrium interest rate.
C) the economy is at full employment.
D) monetary policy has no impact on equilibrium income.
A
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A firm's total cost in the short run is the sum of its fixed cost plus its variable cost plus its marginal cost
Indicate whether the statement is true or false
The majority of economists favor open capital flows
Indicate whether the statement is true or false
A detailed history of business cycles is known as a
A) historical decomposition. B) trend analysis. C) Hodrick—Prescott filter. D) business cycle chronology.
An increase in taxes shifts the
A. aggregate supply curve outward. B. aggregate demand curve outward. C. consumption schedule upward. D. consumption schedule downward.