210 120 130 160 170 180 190 200 909 TO 110 140 15 1 20 50 613 410 420 430 440 476 40 450 270 280 290 300 310 320 330 36 370 380 390 53 540 550 560 57 580 59 QUESTION 53 The time inconsistency of policy implies that a. people expect Fed policy to be more inflationary than the Fed claims. b. what policymakers say they will do is usually not what they do, but people believe them anyway. c. what policymakers say they will do is generally what they will do, but people don't believe them because of OOOO current policy. d. when people expect that inflation will be low, it is harder for the Fed to increase output by increasing the money supply. QUESTION 54