According to New Classical Economists Who Adhere to the Policy

Multiple Choice

According to new classical economists who adhere to the policy irrelevance proposition,

A) monetary policy can effectively reduce the rate of unemployment in the short run.
B) workers are not rational in the long run.
C) the Phillips curve actually slopes upward,not downward as traditionally assumed.
D) expansionary monetary policy will only lead to a higher rate of inflation in the long run.