Monetarists believe that changes in the money stock
a. have an immediate effect on the level of income.
b. will always have a persistent impact on output for more than two years.
c. do not affect the level of income to any great extent.
d. have a persistent impact on output for as long as it takes the expected price level to adjust to the actual price level.
e. both b and d.
D
Economics
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A. can take a long time to establish. B. is a value to consumers. C. can be costly to maintain. D. All of these statements are true.
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Residential construction (new houses and apartments) are included in which component of GDP?
A. Government purchases B. Retail spending C. Investment spending D. Net exports
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