An idea from monetarism which has been absorbed into mainstream macroeconomics would be the:
A. Effects of aggregate supply shocks on the level of real output and the price level
B. Importance of the effects of changes in the money supply on the economy
C. Use of discretion rather than rules for guiding economic policy in the economy
D. Influence of real changes, such as in technology and resource availability, on the level of output
B. Importance of the effects of changes in the money supply on the economy
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Which of the following best defines an optimum currency area?
A) a group of nations sharing the same currency B) a group of regions in close proximity to each other. C) a group of regions who operate under similar economic policies. D) a group of regions with economies closely linked by factor mobility and by trade in goods and services E) a group of nations that engage in free trade with each other
A gaming strategy in which one player states that he/she would break the agreement for eternity if his/her co-player breaks the agreement once is called:
a. a grim trigger. b. a credible threat. c. a chain-store paradox. d. a dominance pull.