Which of the following is accurate?
a. Monetary policy is neutral in both the short run and the long run.
b. Though monetary policy is neutral in the long run, it may have effects on real variables in the short run.
c. Monetary policy has profound effects on real variables in both the short run and the long run.
d. Monetary policy has profound effects on real variables in the long run, but is neutral in the short run.
b
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An increase in the market share of one oligopolist will not affect the market share of the other firms in the industry.
Answer the following statement true (T) or false (F)
(Consider This) According to the piece "Wannamaker's Lament":
A. price tags are inefficient signaling mechanisms. B. money-back guarantees are costly to firms because they don't increase sales but do increase costs. C. most marketing efforts have little impact on sales. D. only 50 percent of new consumer products fail within the first year.
The table above shows the total product schedule for The X Firm. The average product of labor is maximized at ________ workers because ________
A) 4; productivity is maximized when the 4th worker is employed B) 3; output starts to decrease with the 4th worker C) 5; output is maximized with the 5th worker D) 4; the marginal product of labor is increasing with the 4th worker E) 5; the APL exceeds the MPL for the 5th worker
In response to the demands of environmentalists, large sections of timberlands are put off limits to logging. What effect will this have on the aggregate supply curve?
a. Shift it outward. b. Shift it inward. c. Move the economy up along the curve. d. Move the economy down along the curve.