Romer and Romer Found Evidence That Money Is Not Neutral

Multiple Choice

Romer and Romer found evidence that money is not neutral because

A) in several episodes, such as 1979-1982, changes in monetary policy led to recessions.
B) they found that inflation was highly correlated with the rate of growth of the money supply.
C) if money were neutral, no one would care what the Fed does.
D) they found no evidence that productivity changes or changes in government spending contributed to business cycles; only monetary changes preceded every recession.