23. The Ricardian equivalence theorem 8ays
寢 (A) whatever the level of government experiaea, Gonsumption is the same.
心 (B) whatever the timing of taxes, consumption is the same-
(0) higher government expenses reduoe conaumption,
(D) an increase in currert consumption has to. lead to sg decrease im future con_
當 SumPptfion.
An increase in the value ofieollaterajlfor the oonstumer
(A) has no effect 放 the corisumers.collateral oonstraint binds.
(5B) increases current consurmption if the Gollgteral constraint binds.
(C) reduces consumptjon 詩the ceollateral constraint binds.
(0D) inereases income 放 條e oollateral constraint does not bind.
29 he
說 by
New Keynesjan transmission mechanism for monetary policy_ is characterized
外Luw 443 +
CK
(A) helicoptler drops of money,
(58) banks using money jnjeotions for business ]oans.