Which of the following is a key element of the Friedman-Lucas Money Surprise model?
A) workers have imperfect information about aggregate variables in the short-run.
B) workers are irrational.
C) consumers face a cash-in-advance constraint.
D) workers have imperfect information about aggretate variables in the long-run.
E) consumers are not always optimizing.
Correct Answer:
Verified
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