Answer 1 - Option E
Milton Firedman was the intellectual leader of monetarists
The other options are wrong as they are not called the leader of monetarists.
Answer 2 - Option A
Monetary policy will not be very effective in changing the GDP.
This is because the steeper IS curve shows the insensitive investment and interest rates in response to the monetary policy.
The other options are wrong with respect to steep IS curve.
Answer 3 - Option D
Less effective is monetary policy.
As said in the above part , the investment will be insensitive to the changes in momey supply. Hence the IS curve will be steaper.
Other options are the wrong reason of the steap slope of the IS curve.
1) 2) 3) The intellectual leader of the monetarists was Paul Romer. John Maynard Keynes. Robert...
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