The estimated value of the U.S. government's unfunded liability to Social Security is:

The policy irrelevance proposition implies that

A) anticipated monetary policy actions are effective in increasing real GDP, but they do not reduce unemployment. B) anticipated monetary policy actions are effective in stimulating aggregate supply, but they are not effective in stimulating aggregate demand. C) unanticipated monetary policy actions are equally effective in stimulating both aggregate demand and aggregate supply. D) anticipated monetary policy actions are ineffective in generating changes in real GDP.

A tax rebate, like the one issued in 2008, is likely to ________ consumption spending ________ than would a permanent tax cut

A) increase; more B) decrease; more C) increase; less D) decrease; less