_____ is the theory that was popular before _____ changed the face of economics post Great Depression in the 1930s
a. Classical economics; Milton Friedman
b. Keynesian economics; Monetarists
c. Classical economics; Keynes
d. Monetarist economics; Adam Smith
e. Keynesian economics; Milton Friedman
c
Economics
You might also like to view...
A monopolist faces a demand curve given by P = 60 -2Q and has total costs given by TC = Q2. Its marginal revenue is MR = 60 - 4Q and its marginal cost is MC = 2Q. In autarky, what is the firm's equilibrium output?
a. 5 b. 10 c. 15 d. 20
Economics
Monetarists believe that changes in monetary policy would have:
a. only short-term effect on the price level. b. only short-term effect on real GDP. c. only long-term effect on real GDP. d. no effect on price level and real GDP. e. both short-term and long term effect on real GDP.
Economics