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Explain Monetarist and Monetary policy
Monetarist: A group of economists who believe that alters in the money supply are the most effective instrument of government economic policy, and the major determinant of the price level.
Monetary Policy: The use by government of alters in the supply of money and interest rates to achieve desired economic policy objectives.
assumptions
description of slutskian approach
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large firms charge the price which is higher than the small firms, contruct the diagram
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Risk Loving - A person is a risk loving if they show a preference toward the uncertain income over a certain income having same expected value. Examples: Gambling, some
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