1. a. both the upward trend in real GDP and the upward trend in the price level

Question

1.

a. both the upward trend in real GDP and the upward trend in the price level b. the upward trend in real GDP but not the upward trend in the price level c. the upward trend in the price level but not the upward trend in real GDP d. neither the upward trend in the price level nor the upward trend in real GDP

2,
Which of the following is accurate? a. Monetary policy is neutral in both the short run and the long run. b. Though monetary policy is neutral in the long run, it may have effects on real variables in the short run. c. Monetary policy has profound effects on real variables in both the short run and the long run. d. Monetary policy has profound effects on real variables in the long run, but is neutral in the short run.

Explanation / Answer

1) c 2)c

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