1. Which of the following argued that the Great Depression was caused by monetary factors? Modigliani...
1. Which of the following argued that the Great Depression was caused by monetary factors?
Modigliani and Friedman
Tobin and Jorgenson
Friedman and Schwartz
Hicks and Hansen
Lucas and Sargent
2. The crisis reflects a major intellectual failure of macroeconomics to understand the macroeconomic importance of
unemployment.
growth.
financial system.
inflation.
3. The Great Depression had led economists to suggest a larger role for
international trade.
market mechanism.
price mechanism.
government intervention.
Please answer all
Homework Answers
QUESTION 1 : Which of the following argued that the Great Depression was caused by monetary factors?
ANSWER : Friedman and Schwartz
They said that Great Depression was caused by the monetary factors. Fall in money supply is the reason for Great Depression in their view. Monetary shocks leads to great depression. This was explained in their book.
Add Answer to:
1. Which of the following
argued that the Great Depression was caused by monetary
factors?
Modigliani...
1) 2) 3) According to Keynes, the Great Depression was caused by ill-considered expansionary fiscal policy....
1)
2)
3)
According to Keynes, the Great Depression was caused by ill-considered expansionary fiscal policy. inflation is always and everywhere a monetary phenomenon. the Phillips curve is stable. balancing the budget in the midst of a depression would be a serious mistake. none of the above Liquidity preference refers to the "random walk" behavior of consumption spending. real business cycle theorists' explanations for stagflation. Keynes' name for the demand for money. the controversy sparked by the Lucas critique. monetarists...
Consult exhibit 2 then, answers the following questions: 1/ Using the IS-LM model, how does the...
Consult exhibit 2 then, answers the following questions: 1/ Using the IS-LM model, how does the spending hypothesis explain the great depression 2 2/ When relying on the IS-LM model, economists often reach the conclusion that the "Money hypothesis" is not so relevant to explain the great depression. Explain why. Exhibit 2: TABLE 11-2 What Happened During the Great Depression? Consumption Unemployment Rate (1) Real GNP 23 1930 2036 1835 1695 144.2 141.5 1396 130.4 126.1 1931 1932 1933 1934...
Match the following: Adam Smith David Ricardo John Maynard Keynes Choices: (2 are not used.) a....
Match the following: Adam Smith David Ricardo John Maynard Keynes Choices: (2 are not used.) a. founder of modern market economics comparative advantage-argument for mutual benefits of international trade comparative advantage-emphasized job displacements of international trade founder of modern macroeconomics invented capitalism duo If a firm has trouble selling its good, it can lower price. increase demand. decrease supply. both a) and b) are correct. 6. People often pay too much for goods because they are not aware of which...
Match the following: 2. Adam Smith 3. Karl Marx 4. John Maynard Keynes Choices: (2 are...
Match the following: 2. Adam Smith 3. Karl Marx 4. John Maynard Keynes Choices: (2 are not used.) a. invented capitalism b. invented socialism c. founder of modern macroeconomics d. founder of modern market economics e. predicted the end of capitalism 5. If a firm has trouble selling its good, it can a. lower price. b. increase demand. c. decrease supply. d. both a) and b) are correct. 6. People often pay too much for goods because they are not...
1. When it comes to financial matters, the views of Aristotle can be stated as:...
1. When it comes to financial matters, the views of Aristotle can be stated as: a. usury is nature’s way of helping each other. b. the fact that money is barren makes it the ideal medium of exchange. c. charging interest is immoral because money is not productive. d. when you lend money, it grows more money. e. interest is too high if it can’t be paid back. 2. Since 2008, when the monetary base was about $800 billion,...
1)
2)
3)
According to Keynes, the Great Depression was caused by ill-considered expansionary fiscal policy. inflation is always and everywhere a monetary phenomenon. the Phillips curve is stable. balancing the budget in the midst of a depression would be a serious mistake. none of the above Liquidity preference refers to the "random walk" behavior of consumption spending. real business cycle theorists' explanations for stagflation. Keynes' name for the demand for money. the controversy sparked by the Lucas critique. monetarists...
Consult exhibit 2 then, answers the following questions: 1/ Using the IS-LM model, how does the spending hypothesis explain the great depression 2 2/ When relying on the IS-LM model, economists often reach the conclusion that the "Money hypothesis" is not so relevant to explain the great depression. Explain why. Exhibit 2: TABLE 11-2 What Happened During the Great Depression? Consumption Unemployment Rate (1) Real GNP 23 1930 2036 1835 1695 144.2 141.5 1396 130.4 126.1 1931 1932 1933 1934...
Match the following: Adam Smith David Ricardo John Maynard Keynes Choices: (2 are not used.) a. founder of modern market economics comparative advantage-argument for mutual benefits of international trade comparative advantage-emphasized job displacements of international trade founder of modern macroeconomics invented capitalism duo If a firm has trouble selling its good, it can lower price. increase demand. decrease supply. both a) and b) are correct. 6. People often pay too much for goods because they are not aware of which...
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