An economic slow-down would cause the labor:

In 2003, Congress passed a substantial cut in income taxes. The Federal Reserve also lowered interest rates. How can these two actions be categorized?

A) Both actions can be categorized as fiscal policy. B) Both actions can be categorized as monetary policy. C) The tax cut can be categorized as monetary policy and the lowering of interest rates can be categorized as fiscal policy. D) The tax cut can be categorized as fiscal policy and the lowering of interest rates can be categorized as monetary policy.

Controversies between Keynesian, monetarist, and supply-side theories focus on the

A. Usefulness of aggregate demand and supply to analyze adjustment of the macro equilibrium. B. Existence or nonexistence of the aggregate supply curve. C. Importance of international balances to the economy. D. Shape and sensitivity of aggregate demand and aggregate supply curves.