Multiple Choice
If the money supply grows 7% during the year,and people expected the money supply to grow by 5%,what happens to the short-run aggregate supply curve,according to the misperceptions theory?
A) It shifts down.
B) It shifts up.
C) It doesn't shift.
D) It shifts down unless Ricardian equivalence holds, in which case it doesn't shift.
Correct Answer:
Verified
Correct Answer:
Verified
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