The policy irrelevance proposition states that only relatively large expected changes in monetary policy impact the economy. in the short run unanticipated changes in monetary policy are ineffective in changing real GDP. only statements from the White House have impact on the economy. anticipated changes in monetary policy are ineffective in changing real GDP. QUESTION 46 The per capita real GDP is the rate of growth in real GDP minus the population growth rate. rate of growth in real GDP plus the population growth rate. real GDP divided by the population. rate of growth in real GDP times the population growth rate. QUESIIION 47 The problem of dead capital can be eliminated by increasing the labor force participation rate. returning all privately owned capital to the government. restricting population growth. making it easier for people to establish legal ownership of productive capital. QUESTION 48 The real business cycle theory indicates that unanticipated changes in the money supply cause most business cycles. indicates that supply side shocks cause most business cycles. indicates that demand side shocks cause most business cycles. Indicates that frequent fiscal policy actions cause most business cycles