Which of the following statements is (are) correct?
a. Both the monetarists and classicists agree that output is completely supply determined, even in the short run
b. The monetarists do not agree with the classical position that monetary policy cannot be used to influence output.
c. According to both the monetarists and the classicists, output is determined by demand side factors in the short run
d. None of the above
B
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Personal consumption accounted for $12.3 billion in 2015 in the United States.
Answer the following statement true (T) or false (F)
If the marginal cost curve for paper production were altered to reflect the cost of the odor imposed on surrounding areas, which of the following would occur?
A. The market price, accounting for the externality, would rise. B. The market price, accounting for the externality, would fall. C. The marginal cost curve would shift downward. D. It would become socially efficient to produce more paper.
Which one of the following is NOT a component of aggregate demand?
A. government purchases B. goods exported to other countries C. consumption spending D. investment expenditures
The Federal Reserve's surveys of bank loan officers contain questions about:
A. the quantity and quality of loans. B. the interest rates being charged. C. the supply of and demand for loans. D. all of the answers given are correct.