Rapid and sustained economic growth of nations:
A.
Started around the time of Jesus
B.
Started a few centuries before the time of Jesus
C.
Was triggered by the establishment of the Roman Empire in the first millennium
A.
Started around the time of Jesus
B.
Started a few centuries before the time of Jesus
C.
Was triggered by the establishment of the Roman Empire in the first millennium
D.
Is a relatively modern phenomenon
D.
Is a relatively modern phenomenon
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Most economists have argued that the persistence of high unemployment despite New Deal policies:
a. constitutes a complete repudiation of New Deal policies. b. was the result of "sticky" wages. c. was in part the result of pressures from government to maintain wages. d. Both b and c are correct.
The policy irrelevance proposition implies that
A. unanticipated monetary policy actions are equally effective in stimulating both aggregate demand and aggregate supply. B. anticipated monetary policy actions are ineffective in generating changes in real Gross Domestic Product (GDP). C. anticipated monetary policy actions are effective in stimulating aggregate supply, but they are not effective in stimulating aggregate demand. D. anticipated monetary policy actions are effective in increasing real Gross Domestic Product (GDP), but they do not reduce unemployment.