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Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383

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BuyFindarrow_forward

Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383
Textbook Problem

“The policy ineffectiveness proposition (connected with new classical theory) does not eliminate policy makers’ ability to reduce unemployment through aggregate demand–increasing policies, because they can always increase aggregate demand by more than the public expects.” What might be the weak point in this argument?

To determine

The weak point of the given argument.

Explanation

According to this argument, the policy makers are able to identify public expectations about an increase in aggregate demand. It would be practically impossible to know the exact idea of the public expectations...

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