The recession of 2001 began in ________ and ended in ________

In the long run, the real interest rate is 3 percent, real GDP grows at 4 percent, velocity is constant, and the quantity of money grows at 6 percent. The nominal interest rate is

A) 3 percent. B) 10 percent. C) 5 percent. D) 6 percent. E) 4 percent.

Because inflation was not a serious problem during the Great Depression, Keynes's analysis assumed

A) that unemployment also was not a problem. B) that the money supply was fixed. C) that the price level was fixed. D) that monetary policy is not effective.