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PART B: TRUE/FALSE (4 points each) 1) In the medium run monetary and fiscal

Question: PART B: TRUE/FALSE (4 points each) 1) In the medium run monetary and fiscal policies are neutral. 2) An increase in the workers bargaining power leads to an increase in the equilibrium nominal wage however, the equilibrium real wage stays constant. 3) In terms of changing output, monetary policy is relatively more effective in the short run when the AS curveSee the answerSee the answerSee the answer done loadingShow transcribed image textTranscribed image text: PART B: TRUE/FALSE (4 points each) 1) In the medium run monetary and fiscal policies are neutral. 2) An increase in the workers bargaining power leads to an increase in the equilibrium nominal wage however, the equilibrium real wage stays constant. 3) In terms of changing output, monetary policy is relatively more effective in the short run when the AS curve is relatively flat, while fiscal policy is more effective when the AS curve is relatively steep. 4) In medium run, output and price level always return to the same level. 5) Expansionary monetary policy has no effect on the level of output in the medium run. PART C: ESSAY QUESTIONS (5 points each) 1) Assume that the following is true about the economy: C=70 0.1(Y-T) I=40-200i 0.1Y G=100 T-100 Md-SY(0,4-i)

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PART B: TRUE/FALSE (4 points each) 1) In the medium run monetary and fiscal

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Prepare a 350- to 700-word paper in which you examine popular American culture. In your essay, answer the following questions:

• What is culture? What is popular culture?

• What are three major trends in popular American culture?

• How does popular American culture affect personal decision making?

Format your papers consistent with APA guidelines.

**Include at least one scholarly reference.

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