Question
`A given increase in the stock of money has the same long-run effect on the price level whether it results from a temporary budget deficit,
`A given increase in the stock of money has the same long-run effect on the price level whether it results from a temporary budget deficit, or from open market operations, or is dropped from a helicopter.' Discuss.
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Macroeconomics Principles Applications and Tools
Authors: Arthur O'Sullivan, Steven Sheffrin, Stephen Perez
9th edition
978-0134089027, 134089022, 978-0134420684
