List and describe the four positions held by monetarists that help to explain the monetarists view of the economy
Monetarists assume that velocity changes in a predictable way, that aggregate demand depends on the money supply and on velocity, that the SRAS curve is upward sloping, and the economy is self-regulating (prices and wages are flexible).
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Of the following, which is CORRECT?
A) Nominal GDP does not change when the production of goods and services increases. B) Nominal GDP is not affected by changes in prices of goods and services. C) Nominal GDP increases when the prices of goods and services increase. D) Real GDP changes only when the prices of goods and services really change.
The MRP of capital is measured by the change in
a. total output/change in loanable funds b. marginal physical product/change in loanable funds c. total revenue/change in loanable funds d. loanable funds/change in total revenue e. total output/change in total capital