Monetarism is a school of thought put forth by Milton Friedman. He argued that the economy would most likely
A) be unstable. B) be at potential GDP.
C) be above potential GDP. D) be below potential GDP.
B
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Capital rationing refers to
A) setting a minimum acceptable rate of return for a capital outlay. B) selecting among profitable capital outlays when there are constraints on the funds available. C) determining the maximum price to pay for a capital product. D) None of the above
The economic system that answers the What, How and For Whom questions the way they have always been answered is a:
a. market economy. b. command economy c. soviet economy. d. traditional economy.
A program of protection that results in preserving jobs in certain industries
a. raises average productivity in all sectors of the economy. b. does so at very high cost to consumers of the products from those industries. c. is an efficient way to preserve employment, and is cheaper than other forms of maintaining full employment. d. is an effective way of encouraging innovation and improvement in production.
The biggest deterrent to bank panics in the United States is _________.
Fill in the blank(s) with the appropriate word(s).