Classical economists
a. argued that the money supply determined aggregate demand.
b. regarded monetary policy as unimportant since the quantity of money does not determine the price level.
c. believed that the quantity of money influences interest rates and real wages.
d. believed that prices would increase more than proportionate to an increase in the money supply.
Question 2
According to Ricardian equivalence, a long-run impact on the economy occurs when the government ________.
A) lowers taxes
B) issues more government bonds
C) increases spending on capital goods
D) raises taxes
The world has been horrified recently at a U.S. Congress so polarized and paralyzed that it cannot p
The demand for oil can be reduced significantly with the introduction of new higher vehicle mileage
The introduction of a new generation of electric and hybrid cars will reduce the demand for oil
The demand for energy is met by burning coal and other fossil fuels
The demand for cheap coal to generate electrical power is rising
Determined the magnitude of the magnetic force on the conductor.