The Lucas critique indicates that A) advocates of discretionary polic
The Lucas critique indicates that
A) advocates of discretionary policies’ criticisms of rational expectations models are well-founded.
B) advocates of discretionary policies’ criticisms of rational expectations models are not well-founded.
C) expectations are important in determining the outcome of a discretionary policy.
D) expectations are not important in determining the outcome of a discretionary policy.
ANSWER
C
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