If All the Assumptions Underpinning the Policy Irrelevance Proposition Are

question 112

Multiple Choice

If all the assumptions underpinning the policy irrelevance proposition are in place, fully anticipated monetary policy will

• A) affect the unemployment rate but have no impact on the level of real Gross Domestic Product (GDP).
• B) have an impact on real Gross Domestic Product (GDP) but cannot alter the level of unemployment.
• C) effectively alter both the rate of unemployment and the level of real Gross Domestic Product (GDP).
• D) not change either the level of real Gross Domestic Product (GDP) or the unemployment rate.

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