Adding the assumption of pure competition and complete flexibility of all prices and wages to the rational expectations hypothesis yields a theory that provides support for

What is the essence of the problem of timeliness with fiscal policy?

A. Often there is not enough time to spend all of the money that fiscal policies have authorized. B. If fiscal policy is enacted too quickly, it might not be very well thought out. C. In order for fiscal policy to have an impact and prevent a recession, it needs to happen very quickly. D. The government's budget calendar is very strict and fiscal policy can only be done at certain times in the year.

The minimum wage is an example of a price ceiling

Indicate whether the statement is true or false