According to economists who support passive policymaking
A) expansionary policies can reduce unemployment without increasing the price level.
B) policies that attempt to exploit the Phillips curve trade-off will eventually become ineffective for reducing unemployment.
C) there is no difference between the effect of an anticipated change in aggregate demand and the effect of an unanticipated change in aggregate demand of an identical amount.
D) workers always consider a change in nominal wages to be a change in real wages.
B
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An inflation forecast developed in a Monetarist framework is likely to focus on
A) Federal Reserve policy. B) interest rate movements. C) household and business spending decisions. D) the velocity of money.
Four main arguments have been made for trade protection: (1) the ______ argument; (2) the _______ argument; (3) the ________ argument; and (4) the ________ argument.
Fill in the blank(s) with the appropriate word(s).