With which of the following statements would a "real business cycle" theorist most closely agree?
A) "Expansionary monetary policy allows the central bank to control inflation and unemployment simultaneously."
B) "Monetary policies have the greatest impact on real GDP when they are anticipated."
C) "Wages adjust rapidly to changes in inflation as long as expectations are formed rationally."
D) "Technological shocks to the economy affect only aggregate demand in the short run."
C
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Which of the following are two major sources of international law?
a. common law and natural law b. ethical principles and mutual expectations c. international conventions and international custom d. state legislatures and the international legislature
The figure above shows the market for coffee. The ________ price that producers must be offered to get them to produce 10 million pounds of coffee per month is ________
A) maximum; $2.00 B) maximum; $3.50 C) minimum; $2.00 D) minimum; $3.50