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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.
Positive versus Normative Economics Positive Economics Positive economics considers with the predictions or observations of the particulars of economic life. For instance:
describe scitovosky''s double criterion
Explanation
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Risk Loving - A person is a risk loving if they show a preference toward the uncertain income over a certain income having same expected value. Examples: Gambling, some
Extracellular digestion is that in which food breaking into utile molecules that can be internalized by the cell is completed in the extracellular space, i.e., outside the cell. In
Question 1: Tourism is often seen as a way of generating income, particularly foreign exchange. The economic spin-off effects are viewed as the most important aspect of touris
Features of monopolistic competition: Large number of firms in the industry. There are many small firms each supplying only a small share of the total market output. Hence, no
#questThe demand for and supply of labour in a certain industry are given by the equations Nd = 400 - 2w Ns = 240 + 2w Where Nd ( is the number of workers employers want to hire
draw demand curve for a-phone explain how the graph, price ,and quantity demand will change if there is an overall increase in income.
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