Temporary tax cuts will have a greater influence on consumption expenditures than temporary tax cuts

The two most severe recessions of the post-World War II era occurred in 1981-1982 and 2008-2009 . The policy responses to the two recessions were

a. very similar; expansionary fiscal policy promoted a strong recovery in both cases b. very similar, but the recovery was nonetheless weak in both cases c. dramatically different; tax rates were cut and monetary policy was restrictive during the earlier recession, while government spending was increased sharply and monetary policy highly expansionary during the more recent recession d. dramatically different; tax rates were increased and monetary policy was highly expansionary during the earlier recession, while tax rates were cut and monetary policy was restrictive during the more recent recession

The effectiveness of monetary policy as a stabilization tool is limited by

a. activist economists, who exert pressure on politicians. b. the inability to forecast the future and time policy changes in a stabilizing manner. c. Congressional attempts to offset changes in monetary policy with modifications in fiscal policy. d. the inability of the Federal Reserve to alter the money supply.