A shift to a more expansionary monetary policy will generally _________ in the short run, but if the rapid monetary expansion persists, the long-run result will be ______.(fill in the blanks.)
a. expand output and employment; inflation
b. increase the general level of prices; expand output and employment
c. increase the rate of unemployment; reduce the rate of inflation
d. reduce the rate of inflation; increase the rate of unemployment
A
Economics
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"Government should act to reduce poverty levels."
A) This statement is a normative statement. B) This statement is a positive statement. C) This statement is an example of the fallacy of composition. D) This statement is an example of the post hoc fallacy.
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Normative economics often takes a consequentialist philosophical approach to determine whether a policy is good. ?
Answer the following statement true (T) or false (F)
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