According to adaptive expectations theory, expansionary monetary and fiscal policies to reduce the unemployment rate are:
a. useless in the long run.
b. useless in the short run.
c. ineffective on the price level.
d. None of these.
a
Economics
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The table above gives data for the nation of Mosh. The MPC of the economy is
A) .75. B) 1. C) .90. D) .80. E) indeterminate with the information provided.
Economics
How is the impact of contractionary monetary policy different in an open economy than in a closed economy?
What will be an ideal response?
Economics