Euthyphro Problem:

“Oh God said to Abraham, ‘Kill me a son.’ Abe says, ‘Man, you must be puttin' me on.’ God say, ‘No.’ Abe say, ‘What?’ God say, ‘You can do what you want Abe, but the next time you see me comin' you better run. Well Abe says, ‘Where do you want this killin' done?’ God says, ‘Out on Highway 61.’” (Dylan)

Is something good/moral solely because God wills it so, or does God will something to be good/moral because it is so? In other words, does God actually create the moral law, or does she merely recognize the rational implications of the moral law?