According to the neoclassical theory of distribution, the wages paid to workers depend on the

Answer the question based on the following price and output data over a five-year period for an economy that produces only one good. Assume that year 2 is the base year.

Refer to the above data. In year 4, nominal GDP would be:

A.
$60
B.
$90
C.
$120
D.
$316

According to the Monetarist view, the impact of expansionary monetary policy will be:

A. the same in the long run as in the short run. B. the same regardless of whether the effects of the policy are anticipated or unanticipated. C. a higher price level (inflation). D. a decrease in short-run prices and an increase in long-run prices.