In 1994, the Republicans' Contract with America encompassed economic provisions that drew upon the ideas of
a. Keynesian economists.
b. monetarists.
c. new classical economists.
d. supply-side economists.
Question 2
Which of the following statements is(are) correct
a. As a result of the Great Depression of the 1930s, the quantity theory had come into disrepute, together with the rest of the classical theories.
b. According to Friedman, the depression was caused by a fall in aggregate supply and not aggregate demand as believed by the Keynesians.
c. As a result of the Great Depression of the 1930s, Friedman believed that the Keynesians had nothing to say about money demand.
d. All of the above
e. both b and c.
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