According to the theory based on rational expectations and flexible wages and prices,
A) only the combination of discretionary fiscal policy and conservative monetary policy can affect real GDP in the long run.
B) neither fiscal nor monetary policy influence real GDP in the long run.
C) fiscal policy has less effect on real GDP than monetary policy in the long run.
D) monetary policy has less effect on real GDP than fiscal policy in the long run.
B
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The market for used cars is shown in the above figure. Buyers cannot tell whether any given car is a lemon. The percent of all cars that are lemons is ?. What value of ? is necessary for all cars to be sold?
What will be an ideal response?
Accounting profits are total revenues minus
A) all relevant opportunity costs. B) explicit and implicit costs. C) explicit costs and all other relevant opportunity costs. D) explicit costs.
For which of the following is there no such thing as a "price?"
a. labor b. land c. entrepreneurship d. none of the above
Give some explanations for the decline in union membership in the United States