Given U.S. tax laws, persistently high inflation may result in
a. They increase growth because particulates provide an additional carbon source
b. faster economic growth because the after-tax real interest rate is higher.
c. slower economic growth because the after-tax nominal interest rate is lower.
d. faster economic growth because the after-tax nominal interest rate is higher.
a
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Robert Lucas Jr. adapted the fooling model to his own way of thinking by replacing that model's assumption of
A) continuous market-clearing. B) imperfect information. C) the natural rate hypothesis. D) the gradual correction of expectational errors.
The recessionary gap is the
A. amount of unemployment compensation required during a recession. B. budget deficit encountered during a recession. C. amount of government spending needed to end a recession. D. distance between the equilibrium level of output and the full employment level of output.