Which of the following schools of thought emphasize the role of money supply in determining equilibrium real GDP and price level?

a. Traditional Keynesian economics
b. New Keynesian economics
c. New classical economics
d. Classical economics
e. Monetarist economics

e

Economics

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What factor would not help resolve the Bertrand paradox (that a perfectly competitive outcome can emerge with as few as two firms in the market) if the basic Bertrand model were extended to include it?

a. Repeated interaction b. Search costs c. Sequential moves d. Product differentiation

Economics

A union can influence the equilibrium wage rate by:

a. collective bargaining. b. featherbedding. c. lobbying for legislation to reduce immigration. d. all of these.

Economics