Economics For Today
10th Edition
ISBN: 9781337613040
Author: Tucker
Publisher: Cengage Learning
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Question
Chapter P7, Problem 10KC
To determine
The impact of decreased money supply when the
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Question 1
1- one of the most famous Classical economists is
v and they They assumed that
john Maynard Keynes
Reacting to changes in money prices rather than relative prices
Pure competition does not exists.
2-A dictum of economist J.B. Say is
3- one of the Assumptions of the classical model is wages and prices were flexible
4- Money Illusion means
supply creates its own demand
Adam Smith
the competitive markets are not existed
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