The most important factor in determining a nation's standard of living in the long run is the productivity of its resources

Deflation can render monetary policy powerless

a. True b. False

Which statement is true?

A. Xn in the United States has been negative every year since the mid-1970s. B. Xn in the United States was generally positive for most years from the 1920s until 1971. C. Since the mid-1970s, GDP would have been higher without Xn. D. All of the statements are true.