Question 1
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
Question 2
According to the Lucas supply function, ________ will have an effect on real output.
◦ only announced policy changes
◦ any unanticipated policy changes
◦ only unanticipated fiscal policy changes
◦ only unanticipated monetary policy changes