Pts according to the we are all keynesians now

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Question 331.5 / 1.5 ptsAccording to the "We are all Keynesians Now" article, the labor secretary at that time wanted the unemployment rate to fall down to 3%.TrueFalse
Question 341.5 / 1.5 ptsThe misery index in 1980 exceeded 25.
Question 351.5 / 1.5 ptsThe mid to late 1970s was the 'heyday' of Keynesian economics in the US economy.
Question 361.5 / 1.5 ptsKeynes believed that it was the responsibility of the government to use its powers to increase production, incomes and jobs.
Question 371.5 / 1.5 ptsConsistent with his thought on spending heavily, Keynes was known as an excellent tipper.TrueFalse
Question 381.5 / 1.5 ptsThe steeper the SRAS curve, the steeper the short-run Phillips curve.
Question 391.5 / 1.5 ptsIf the long-run aggregate supply curve is vertical so is the long-run Phillips curve.
Question 401.5 / 1.5 ptsFriedman and Phelps agreed that there is a trade-off between unemploymentand inflation, but only in the long run.
Question 411.5 / 1.5 ptsIf actual inflation is lower than expected inflation, then the actual real wage is higher than the expected real wage. This being the case, firms will lay off workers.TrueFalse
Question 421.5 / 1.5 ptsAccording to the Taylor Rule described in the lectures, if the Fed is getting an A+, then the federal funds rate should be set at 5%.
Question 431.5 / 1.5 ptsAccording to the Taylor principle, if actual inflation rises by 1% over target inflation, then the Fed should raise the federal funds rate by 2% to make surethat the real federal funds rate rises which is referred to as "leaning against the wind."
Question 441.5 / 1.5 ptsIf the actual federal funds rate is higher than the funds rates implied by the Taylor rule, then we say that the central bank is hawkish.
Question 451.5 / 1.5 ptsIf actual inflation rises one percent above target and the central bank raises the actual funds rate by one percent then according to the Taylor rule, the central bank is being hawkish.TrueFalse
Question 461.5 / 1.5 ptsAccording to the Taylor rule, the Greenspan Fed was hawkish during the new economy years.
Question 471.5 / 1.5 ptsAccording to the Taylor rule, the Greenspan Fed was hawkish during the job-less recovery as well as the job-loss recovery.
Question 481.5 / 1.5 ptsOne way to explain the apparent tradeoff between inflation and unemployment during the 1960s, expected inflation was consistently higher than the actual inflation implying that firms would be willing to hire more workers given this difference between expected and actual inflation. The

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