If an increase in the money supply is less than what was expected, output will rise.
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Q18: If expectations are rational, the credibility of
Q19: New Keynesian economists believe that EMP cannot
Q20: New classical economists tend to favor non-activist
Q21: The new Keynesian model assumes price and
Q22: Sargent is one of a number of
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Q26: Wages and prices adjustments are slow.
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Q28: Unanticipated EMP has _ effect on output
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