According to Economists Robert Lucas and Thomas Sargent,the Apparent Short-Run

question 222

Multiple Choice

According to economists Robert Lucas and Thomas Sargent,the apparent short-run trade-off between unemployment and inflation in the 1950s and 1960s was the result of

• A)unexpected changes in monetary policy.
• B)expected changes in monetary policy.
• C)unexpected changes in fiscal policy.
• D)expected changes in fiscal policy.

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Definitions:

Securities

Financial instruments that represent an ownership position in a publicly-traded corporation (stock), a creditor relationship with a governmental body or a corporation (bond), or rights to ownership as represented by an option.

Punch Recipe

A set of instructions for making a large, usually sweet and fruity drink intended to serve multiple people.

Ginger Ale

A carbonated soft drink flavored with ginger, often used as a mixer in cocktails or consumed on its own for its taste and digestive benefits.

Ratio

A quantitative relationship between two numbers showing how many times the first number contains the second or vice versa.