16. Keynes argued that monetary policy would be impotent during the Great Depression because a (A) fall in interest rates would stimulate investment. (B) fall in interest rates would not stimulate investment. (C) rise in interest rates should not stimulate investment. (D) rise in interest rates would stimulate inv

24. France has a higher natural rate of unemployment than the United States. This suggests that (A) France is at a higher point on its long-run Phillips curve and so has higher inflation than the United States. (B) France is at a lower point on its long-run Phillips curve and so has lower inflation than the United States. (C) France's Phillips curve is to the left of that of the United States, possibly because they have higher inflation. (D) France's Phillips curve is to the right of that of the United States, possibly because they have more generous unemployment compensation.

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