If only current income is considered, beer taxes are _____. If lifetime income is considered, however, beer taxes are _____

In the real business cycle model, an increase in current total factor productivity leads to

A) an increase in investment. B) a decrease in investment. C) no change in investment. D) an ambiguous response of investment.

The Federal reserve prefers to use open market operations because

a. it allows for small changes. b. its effects are well understood. c. it is easy to conduct. d. both a and b. e. all of the above.