"Current economic parameters are determined by  past rational expectations" is a property of the__________ school of thought.

		monetarist
		real business cycle
		rational expectations/new classical
		New Keynesian
		classical

1. Y in the equation of exchange equals:

   		nominal GDP.
   		velocity.
   		real GDP.
   		money stock.

2. The (original) Keynesian  primary policy for a recession is:

   		increasing money supply/decreasing interest rates.
   		decreasing the money supply/increasing interest rates.
   		increasing government spending/cutting taxes.
   		increasing government spending/increasing money supply.
   		increasing government spending/raising taxes.

3. Per class notes, Supply side economics is best illustrated by a "frowny face'.

   True

   False

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