Asked by
Nuveh Fonua
on Oct 12, 2024
Verified
Milton Friedman and Anna Jacobson Schwartz stated that
A) changes in the behavior of the money stock have been closely associated with changes in economic activity,money income,and prices.
B) the basic problem during recession is inadequate aggregate demand.
C) the capitalist system is inherently unstable;it tends toward cycles of overproduction and recessions.
D) the only way to stabilize the economy is through very forceful fiscal policy.
Milton Friedman
A prominent economist known for his theories on consumption analysis, monetary history and theory, and the complexity of stabilization policy.
Anna Jacobson Schwartz
An American economist known for her collaborative work with Milton Friedman on the history of monetary policy and banking.
Money Stock
Represents the total quantity of money available in an economy at a specific time, including cash, coins, and balances held in checking and savings accounts.
- Scrutinize the nexus between money stock, inflation dynamics, and the balance of economic activities.
- Acquire knowledge about the influential roles played by key figures like Milton Friedman in the development of monetarism.
Verified Answer
TJ
Learning Objectives
- Scrutinize the nexus between money stock, inflation dynamics, and the balance of economic activities.
- Acquire knowledge about the influential roles played by key figures like Milton Friedman in the development of monetarism.