Which of the following is NOT an inference of the rational expectations hypothesis?
A) Government policy actions have no real effects in the short run unless the actions are unanticipated.
B) Government policy actions have no real effects in the long run.
C) Government policy actions that are anticipated have no real effects in the short run.
D) Government policy actions that are unanticipated have no monetary effects in the short run.
D
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Countries with the highest degrees of governmental bureaucratic inefficiency index
A) typically are nations with the highest real GDP per capita. B) typically are nations with the lowest real GDP per capita. C) normally have the lowest measured levels of dead capital. D) normally have the highest measured levels of economic freedom.
In the market for eggs, a removal of the price ceiling on eggs results in:
a. an increase in the demand for eggs. b. farmers supplying more eggs to the market. c. consumers demanding a larger quantity of eggs. d. farmers supplying less eggs to the market. e. consumers demanding a smaller quantity of eggs.