In the Long Run, Many Economists Argue That Fiscal Policy

question 24

Multiple Choice

In the long run, many economists argue that fiscal policy is ineffective because it has little effect on

• A)potential GDP.
• B)the inflation rate.
• C)the price level.
• D)nominal GDP.
• E)nominal interest rates.

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Definitions:

Access To Care

The degree to which individuals can obtain needed medical services, ranging from general health care to specialized treatments.

Public Health System

An organized network of agencies and institutions that work collectively to protect and improve the health of a population.

Workplace Insurance

Insurance coverage designed to provide protection and benefits to employees in case of job-related injuries, illnesses, or death.

Hypnotism

A trance-like state of focused attention and heightened suggestibility, often used for therapeutic purposes.