According to the theory of rational expectations, the government can influence output
a. with appropriate fiscal and monetary policy.
b. in the short run, but not in the long run.
c. without affecting the price level.
d. only by making unexpected changes in aggregate demand.
d
Economics
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Refer to Table 16-3. If Julie charges $10 per hour, what is the value of the consumer surplus received by Dawn?
A) $2 B) $10 C) $12 D) $22
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Which constitutes an obstacle to collusion among oligopolists?
A. A standardized product. B. Trademarks and copyrights. C. A large number of firms. D. Prosperous economic conditions.
Economics