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Explain Monetarist and Monetary policy
Monetarist: A group of economists who believe that alters in the money supply are the most effective instrument of government economic policy, and the major determinant of the price level.
Monetary Policy: The use by government of alters in the supply of money and interest rates to achieve desired economic policy objectives.
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Calculate the price elasticity of demand or supply for the following function when P=8 p=6(I)p=40-0.5q
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