Multiple Choice
Christina and David Romer identify six independent monetary policy shifts after 1960 in which the Fed
A) increased the money supply when output increased and decreased the money supply when output decreased.
B) announced a contractionary monetary policy to fight inflation, after which output fell.
C) announced a contractionary monetary policy to fight inflation, after which output rose.
D) raised nominal interest rates in order to fight recession, after which the money supply rose.
Correct Answer:
Verified
Correct Answer:
Verified
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