If a Group of Economists Believes the Following Points Are

question 202

Multiple Choice

If a group of economists believes the following points are TRUE, which is likely to be their policymaking stance? ∙ Aggregate demand shocks have no long run effect on real Gross Domestic Product (GDP) or unemployment.
∙ Pure competition is widespread throughout the economy.
∙ Real wages are flexible.
∙ The Phillips Curve trade-off does not exist in the long run.

• A) They will support active policymaking.
• B) They will support passive policymaking.
• C) They will support discretionary policymaking.
• D) They will argue that any attempt at economic policymaking is futile.

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