According to the party cycle theory, recessions
a. will be nonexistent in the near future.
b. are most apt to occur when a liberal president is elected.
c. are most likely to occur during the first couple of years following the election of a conservative president.
d. are here to stay.
Question 2
Imperfect information is a critical assumption in the
a. classical model.
b. Keynesian model.
c. monetarist model.
d. new Keynesian model.
e. real business cycle model.