假设价格有完全的伸缩性，而且，经济中产出的波动正如实际经济周期理论所说的是由于技术冲击。 a．如果美联储

假设价格有完全的伸缩性，而且，经济中产出的波动正如实际经济周期理论所说的是由于技术冲击。

a．如果美联储保持货币供给不变，随着产出的波动，物价水平会发生什么变动？

b．如果美联储调整货币供给以稳定物价水平，随着产出的波动，货币供给会发生什么变动？

c．许多经济学家观察到，货币供给的波动与产出的波动正相关。这是反对实际经济周期理论的证据吗？

Suppose that prices are fully flexible and that the output of the economy fluctuates because of shocks to technology, as real business cycle theory claims.

a．If the Federal Reserve holds the money supply constant, what will happen to the price level as output fluctuates？

b．If the Federal Reserve adjusts the money supply to stabilize the price level, what will happen to the money supply as output fluctuates？

c．Many economists have observed that fluctuations in the money supply are positively correlated with fluctuations in output. Is this evidence against real business cycle theory？