According to the classical theory, a contractionary monetary policy ________ the price level and ________ output in the long run.
A. doesn't change; doesn't change
B. decreases; doesn't change
C. decreases; increases
D. increases; increases
Answer: B
Economics
You might also like to view...
We must be knowledgeable of how people behave in strategic situations if we are to understand
a. perfectly competitive markets. b. monopolistically competitive markets. c. oligopolistic markets. d. All of the above are correct.
Economics
The amount of income people have left after taxes is called
A. boot. B. net profit. C. disposable income. D. excise income.
Economics