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Author Question: According to the Lucas supply function, if people's expectations are on target, then the amount of ... (Read 98 times)

big1devin

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on: Apr 19, 2019

Question 1

The Lucas supply function, in combination with the assumption that expectations are rational, implies that announced policy changes


◦ will have no effect on the actual price level.
◦ will have no effect on real output.
◦ will have no effect on the expected price level.
◦ will have no effect on nominal output.

Question 2

According to the Lucas supply function, if people's expectations are on target, then the amount of output they produce


◦ is not related to the price level.
◦ is directly related to the price level.
◦ will always be below potential GDP.
◦ will always be above potential GDP.
Principles of Economics ¦ Case, Fair, Oster ¦ 12th Edition
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Marked as best answer by big1devin on Apr 19, 2019

medine

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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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big1devin

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Reply 2 on: Apr 19, 2019
YES! Correct, THANKS for helping me on my review

amynguyen1221

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Reply 3 on: Yesterday
Excellent

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