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According to the Lucas supply function, ________ no effect on real output.

Ingy_

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According to the Lucas supply function, ________ no effect on real output.

Question 1.

The Lucas supply function states that real output can change from its fixed level

▸ only if there is a positive price surprise.

▸ only if there is a negative price surprise.

▸ only if there is no price surprise.

▸ Both only if there is a positive price surprise and only if there is a negative price surprise are possible.

Question 2.

According to the Lucas supply function, ________ no effect on real output.

▸ any announced policy change has

▸ any unanticipated policy change has

▸ only announced fiscal policy changes have

▸ only announced monetary policy changes have

Textbook

Principles of Economics

Edition: 12^th

Authors: Case, Fair, Oster

Read 75 times

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tlaster

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6 years ago

More solutions for this book are available here

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Ingy_ Author

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6 years ago

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