Which of the following statements best describes the actions of the economists and policymakers of the Great Recession?
a. The economists and policymakers of the Great Recession era were not content to let the markets recover from recession without taking proactive measures to support consumption and investment.
b. The economists and policymakers of the Great Recession era were content to let the markets recover from recession without taking proactive measures to support consumption and investment.
c. The economists and policymakers of the Great Recession era were not content to let the markets recover from recession without taking reactive measures to support consumption and investment.
d. The economists and policymakers of the Great Recession era were content to let the markets recover from recession without taking reactive measures to support consumption and investment.
a. The economists and policymakers of the Great Recession era were not content to let the markets recover from recession without taking proactive measures to support consumption and investment.
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The purchase of a virtual item from an online company with a virtual currency causes the nation's:
a. Monetary base to rise. b. M2 money multiplier to fall. c. M2 money multiplier to remain the same. d. M2 money supply to fall.
What would a central bank need to do to reverse the effects of a favorable supply shock on inflation? What would its reaction do to the unemployment rate in the short run?