Which of the following are reasons why stimulative monetary policy might fail? Check all that apply.

a. Due to low interest rates, individuals who rely on interest income to cover expenses may spend less money, offsetting the intended effects of the monetary policy.

b. The policy was implemented, but the effect it was supposed to have on the economy took too long.

c. Monetary policy typically affects long-term interest rates and, as a result, cant help stabilize the economy in the short run.

d.Monetary policy typically affects short-term interest rates and will have a limited effect on financial market participants who focus on long-term interest rates.