Expansionary monetary policy is always effective in increasing economic output regardless of the current economic conditions.

Expansionary monetary policy is a strategy used by central banks to increase the money supply and lower interest rates, which can help stimulate economic growth. However, it is not always effective in increasing economic output, especially during certain conditions like a recession or when interest rates are already very low. For instance, if people and businesses are too worried about the economy to spend or invest, even lower interest rates may not encourage them to take action. Additionally, if inflation is high, increasing the money supply can worsen the situation instead of helping it. Therefore, while expansionary monetary policy can be a useful tool, its effectiveness depends on the specific economic context and people's willingness to engage with the economy.