Putting money into the utility and production functions is difficult to reconcile with the Walrasian general equilibrium
Question:
“Putting money into the utility and production functions is difficult to reconcile with the Walrasian general equilibrium model.” “Putting money in the utility and production functions does provide a way of theorizing about the benefits from the medium of payments role that money plays in the real-world economy with heterogeneous goods, specialization in production and trade, and absence of the double coincidence of wants.”
Discuss these statements.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Question Posted: