Evidence suggests that Multiple Choice high real interest rates have no effect on levels of growth. high real interest rates cause recessions. high real interest rates are followed by lower levels of growth. central bankers raise real interest rates to cause recessions. Comparing monetary and fiscal policy, Multiple Choice fiscal policy has an advantage because it is faster to implement than monetary policy. es history has shown fiscal policy to be more effective at stabilization. monetary policy is easier to implement fiscal policy is easier to implement