A completely and accurately anticipated expansionary monetary policy will increase real output in the short run but not in the long run

a. True
b. False
Indicate whether the statement is true or false

False

Economics

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Long Beach Island, off the coast of New Jersey, is considering enhancing its system of satellite towers to help communication during emergencies such as hurricanes

A study showed that in Superstorm Sandy the existing number of satellite towers resulted in the marginal social cost of a satellite tower being less than the marginal social benefit. To achieve efficiency, this study indicates that the A) system should be left as is because the quantity of satellite towers is efficient. B) system should be reduced in size because the quantity of satellite towers is more than the efficient quantity. C) system should be expanded because the quantity of satellite towers is less than the efficient quantity. D) None of the above because the study erred in comparing the marginal social cost to the marginal social benefit since it should have compared the marginal private cost to the marginal private benefit.

Economics

In the long run, both monopolistic competition and perfect competition result in:

a. a wide variety of brand-name choices for consumers. b. an efficient allocation of resources. c. zero economic profit for firms. d. excess capacity.

Economics