According to classical macroeconomic theory, in the long run
a. monetary growth affects both real and nominal variables.
b. the only real variable affected by monetary growth is the unemployment rate.
c. a number of factors that affect unemployment are influenced by monetary growth.
d. monetary growth affects nominal but not real variables.
d
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Price ceilings result in shortages
Indicate whether the statement is true or false
"Supply" is best defined as the relationship between:
A) the current price of a good and the quantity supplied at that price. B) the price of a good or service and the quantity supplied by producers at each price during a period of time. C) the cost of producing a good and the price consumers are willing to pay for it. D) the quantity supplied and the price people are willing to pay for a good.