Both the New Keynesians and the New Classical Economists Have

question 61

Multiple Choice

Both the new Keynesians and the new classical economists have

• A) agreed that changes in the price level are unrelated to changes in the money supply.
• B) concluded that the U.S. business cycle is dead.
• C) advocated the elimination of the Federal Reserve System.
• D) adopted the theory of rational expectations.
• E) seen their theories become so divergent since the 1960s that they are useless to policy makers.

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Definitions:

Standing Room

Areas in a venue, such as a theater or sports arena, where spectators stand to watch the event, typically at a lower cost than seated tickets.

Rush Ticket

Discounted tickets offered for a performance, typically on the day of the event, aiming to ensure fuller attendance.

Montreal Canadiens

A professional ice hockey team based in Montreal, Quebec, known for its rich history and numerous Stanley Cup championships.

Time Poverty

The feeling of having insufficient time to accomplish all of one's tasks, leading to stress and a lower quality of life.