If the IS curve is relatively steep,then
A) there can be no long-run tradeoff between inflation and unemployment.
B) monetary policy cannot be very effective in changing GDP.
C) rational expectations theory is probably correct.
D) Ricardian equivalence most likely holds.
E) budget deficits will not affect future capital accumulation.
Correct Answer:
Verified
Q6: According to Keynes,
A)the Great Depression was caused
Q7: Which of the following argued that the
Q8: The IS-LM model was developed by
A)Friedman and
Q9: Which of the following schools of thought
Q10: The theories of consumption were developed by
A)Friedman
Q12: Which of the following statements about Keynes'
Q13: "Effective demand" represents which of the following?
A)money
Q14: "In the long run,we're all dead" was
Q15: In the 1960s,the monetarist school of thought
Q16: Liquidity preference refers to
A)Keynes' name for the
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