In recent years, the Federal Reserve has conducted policy by setting a target for

Contrast the Cambridge and Fisher versions of the quantity theory. Explain why the Cambridge version of the quantity theory represents a more modern monetary theory when compared to Fisher's version

What will be an ideal response?

With only two goods, if the income effect is in the opposite direction as the substitution effect but the income effect dominates then the good is

a. normal b. inferior but not Giffen c. Giffen d. There is not enough information to answer.