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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.
Use a graphical illustration to describe briefly what the influence of each of the following would be on the market supply of labor:(a) an increase in immigration (b) more women en
Adding the economic activities of government to the circular flow model shows that: 1. Government spending creates inflation 2. Government purchases of goods and services,
Labour Extraction: Most employees under capitalism are paid according to time they spend at work. Though employers then face a challenge to extract genuine labour effort from their
For the purposes of economic analysis, a normal profit contains the cost of the lost opportunity of the next best option allocation of the firms resources. In a purely competitive
do you give solutions
The process of production needs several inputs. These inputs are known as the factors of production. In most cases, firms own some of the factors of production while some have to b
The Effects of Advertising on the Demand Curve: Advertising targets to: • Change the slope of the demand curve which means make it more inelastic. This is done by generat
causes of monopoly
It is important to understand the important characteristics of monopolistic competition. The knowledge of these features will enable the students to know how this form of market st
could a nations production possibilities curve ever shift inward
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