6 Monetarists believe that economic instability is almost exclusively the result of er- ratic fluctuations in the

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6 Monetarists believe that economic instability is almost exclusively the result of er- ratic fluctuations in the money supply. Monetary acceleration initially leads to a higher real income, but inflation will eventually result. Responding to the inflation, the mone- tary

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Essentials Of Economics

ISBN: 396414

2nd Edition

Authors: James D Gwartney; Richard Stroup; J R Clark

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