Classical Macroeconomists Focused on the Long-Run Effects of Monetary Policy

question 162

True/False

Classical macroeconomists focused on the long-run effects of monetary policy on the aggregate price level and argued that it had no short-run or long-run effects on aggregate output.

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Definitions:

Activation

Refers to the process of stimulating something to act or function.

Direction

Guidance or supervision towards the path or course to be followed.

Vigor

Physical strength, good health, or intense activity; the quality of being vibrant and energetic.

Activation

The process of stimulating something to increase its level of action or operational state, often used in biological and neurological contexts.