Christina Romer argued that
A) measured properly, GNP before 1929 varied substantially less over time than the official statistics showed.
B) measured properly, GNP after 1929 varied substantially more over time than the official statistics showed.
C) measured properly, economic expansions after 1929 were shorter than the official statistics showed.
D) measured properly, economic expansions before 1929 were shorter than the official statistics showed.
A
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During this year, nominal GDP in Syldavia was $720 billion and real GDP was $720 billion. The GDP price index in Syldavia in this year was
A) 0, because nominal GDP equaled real GDP. B) 100. C) 720. D) -1. E) 720 billion.
On what aspect of policymaking, according to Robert Lucas, have policymakers been shortsighted in the past?
What will be an ideal response?