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Author Question: According to the Lucas supply function, the economy will produce more output when (Read 33 times)

audragclark

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on: Apr 19, 2019

Question 1

According to the Lucas supply function, the amount of output produced is 
not related to the price level if


◦ people's expectations of the price level are higher than the actual price level.
◦ people's expectations of the price level are on target.
◦ people's expectations of the price level are lower than the actual price level.
◦ people's expectations of the price level are either higher or lower than the actual price level.

Question 2

According to the Lucas supply function, the economy will produce more output when


◦ prices are unexpectedly higher than when prices are at their expected level.
◦ wages are below the expected level.
◦ prices are unexpectedly lower than when prices are at their expected level.
◦ prices are exactly equal to the expected level.
Principles of Economics ¦ Case, Fair, Oster ¦ 12th Edition
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Marked as best answer by audragclark on Apr 19, 2019

cswans24

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Reply #1 on: Apr 19, 2019
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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audragclark

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Reply #2 on: Apr 19, 2019
Thanks


cswans24

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Reply #3 on: Apr 19, 2019
Welcome :)


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