Keynes and many of his contemporaries believed that money was
a. major importance because the idea of the liquidity trap only came later.
b. even more important than fiscal policy.
c. little importance and monetary policy of little use as a stabilization tool.
d. major importance but of little use as a stabilization tool.
e. none of the above.
C
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Global imbalances may be reduced by a reduction in excess savings.
Answer the following statement(s) true (T) or false (F)
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Fill in the blank(s) with the appropriate word(s).
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