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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.
Why in 1996 did the BEA switch to calculate real GDP using the "chained-dollar method" from the "constant-dollar method"? The BEA made the switch from the constant-dollar metho
what is law of variable proportions?
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