If Resource Owners Anticipated a Monetary Growth Rate of 6

question 178

Multiple Choice

If resource owners anticipated a monetary growth rate of 6 percent,but the money supply actually grew at only 2 percent,

• A)real wages would fall
• B)output would fall
• C)output would increase
• D)output would increase,but only if nominal wages were increased more rapidly than prices
• E)the expected inflation rate was less than the actual rate

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