In response to the early Keynesians, monetarists contended that
A) monetary policy during the Great Depression was not easy.
B) bank failures during the Great Depression were not the cause of the decline in the money supply.
C) evidence from the Great Depression demonstrated the ineffectiveness of monetary policy.
D) there is a weak link between interest rates and investment spending.
A
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Which of the following is also known as the firm's planning curve?
a. the average total cost curve b. the total cost curve c. the long-run average cost curve d. the long-run marginal cost curve e. the fixed cost curve
Assume that product X has a negative cross elasticity with respect to shoes. If the price of shoes rises
A) the demand for product X will decrease. B) the quantity demanded for product X will increase. C) the demand for shoes will fall. D) the demand for product X will increase.