MsJones Is a Professor at a University

question 4

Multiple Choice

Ms.Jones is a professor at a university.She strongly supports the rational expectations theory.She is likely to believe that the only time active policy has an impact on aggregate output is when:

• A)an expansionary policy is implemented.
• B)a recessionary policy is implemented.
• C)policy changes are unannounced.
• D)the economy has a recessionary gap.
• E)the economy has an expansionary gap.

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