During the period referred to as "the Great Moderation"
A)there were only mild economic fluctuations despite severe supply shocks
B)few policy changes were implemented so output stayed close to the full employment level
C)economic fluctuations were largely contained through effective policy changes
D)inflation consistently exceeded 4 percent
E)all of the above

Question

Quizplus · Accepted Answer

The Great Moderation was characterized by reduced volatility in economic fluctuations, largely attributed to effective monetary policy and other structural changes.

During the Period Referred to as "The Great Moderation