In most of the 1970s, the Fed's policy created expectations of high inflation

In the United States, estimates of the natural rate of unemployment in recent years have varied between

A) 0 percent and 2 percent. B) 0 percent and 4 percent. C) 5 percent and 6.5 percent. D) 2 percent and 4 percent.

What are the effects of an expansionary monetary policy on interest rates and output in an open economy with fixed exchange rates?

What will be an ideal response?