The Great Moderation Consensus in Macroeconomics Is That

Multiple Choice

The Great Moderation consensus in macroeconomics is that:

A) prices are sticky in the long run but flexible in the short run.
B) decreases in aggregate output can be traced to poor monetary policy.
C) in the long run, neither monetary nor fiscal policy can reduce unemployment below the natural rate.
D) monetary and fiscal policies are equally effective at curing recessions.