Author Question: Rolnick and Weber point out that a bimetallic standard will not exhibit Gresham's Law if: a. people ... (Read 13 times)

bobypop · **on:** Jun 30, 2018

Rolnick and Weber point out that a bimetallic standard will not exhibit Gresham's Law if:
a. people are willing to use coins at their market values.
b. people are willing to use coins at their face values.
c. the government regulates the quantity of each type of coin in circulation.
d. paper money circulates along with minted coins.

Question 2

For much of the 1940s, 50s and 60s, macroeconomic policymaking in the U.S. and abroad was dominated by:
a. the ideas advanced in Keynes's General Theory.
b. the ideas advanced in Friedman's Monetary History of the U.S.
c. the supply-side theories of Arthur Laffer and David Stockman.
d. Robert Lucas's theories of business cycles.

milbourne11 · **Reply #1 on:** Jun 30, 2018

Answer to Question 1

a. people are willing to use coins at their market values.

Answer to Question 2

a. the ideas advanced in Keynes's General Theory.