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Q. What is Monetarism?
Monetarism:Monetarism was a right-wing economic theory (associated with work of Milton Friedman, in particular) which believed that inflation could be controlled or eliminated by strictly controlling, over long periods of time, growth of the total supply of money in the economy. This theory was proven wrong in 1980s (when it became clear that it is impossible, in a modern financial system, to control supply of money). More broadly, monetarism believes that inflation is a major danger to economic performance and must be controlled through disciplined policies; modern ‘quasi-monetarists' agree with this view, however now use high interest rates (instead of monetary targeting) to indirectly regulate the money supply.
Cardinal Theory: An Introduction In cardinal approach, utility is measured cardinally or numerically in terms of money. The consumer not only knows which one is preferred but
The sales of a company are the part of the total sales of industry. If the conditions of industry changes then the sales of each of the firm in the industry is affected. All teh ti
price falls and demand is elstic
How does the approach of someone who has adopted the precautionary principle differ from someone with a blind faith in substitutability, when it comes to a non-renewable resource l
Explain the Kuhn-Tucker Theorem in economics. Kuhn-Tucker Theorem: Assume that x solves the inequality constrained optimization problem and also satisfies the constrained qu
Statistical methods are considered to be superior techniques of demand estimation because: a. The element of subjectivity in this method is minimum, b. Methods of es
The price of milk is usually much less expensive in a grocery store versus a convenience store. Using economic terminology, explain why people purchase milk at convenience stores.
The Standard Indifference Curve Diagram. The standard model of labour leisure choice does not distinguish between females and males. It is a unisex model. The vertical axis gives
3 factors by america palce at world economy leading edge 3 factors have taken pride of place in explanations of America's place at the world economy's leading edge in its level
Q. Level of aggregate demand in economy? Demand-pull inflation takes place when there is an increase in level of aggregate demand in economy. Aggregate demand comprises five co
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