To the Extent That Monetary Policy Is Fully Anticipated by Workers

question 186

Multiple Choice

To the extent that monetary policy is fully anticipated by workers and firms, it has _____

• A) no effect on the level of output; it affects only the price level.
• B) an effect on the level of output; it affects the price level.
• C) no effect on the level of output; it affects only employment.
• D) an effect on the level of output; it affects employment.
• E) no effect on the level of output; it affects only output.

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