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
Economics
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The financial crisis of 2007-2009 worsened after the failure of which firm?
A) General Motors B) Lehman Brothers C) Bear Stearns D) American International Group (AIG)
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The use of a dollar bill to buy a concert ticket represents the function of money as a:
a. medium of exchange. b. unit of account. c. store of value. d. all of these.
Economics