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drewster127 drewster127
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5 years ago

The Lucas supply model, in combination with the assumption that expectations are rational, leads to the conclusion that



▸ expansionary policies, but not contractionary policies, can have an impact on real output.

▸ contractionary policies, but not expansionary policies, can have an impact on real output.

▸ only unanticipated policy changes can have an impact on output.

▸ neither anticipated nor unanticipated policy changes can have an impact on output.
Textbook 
Principles of Economics

Principles of Economics


Edition: 12th
Authors:
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bli14bli14
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5 years ago
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drewster127 Author
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5 years ago
Thanks
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