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Who was Irving Fisher and what is he known for? Who was Milton Friedman? Explain the Quantity Theory of Money, (equation), and explain the controversy
Who was Irving Fisher and what is he known for? Who was Milton Friedman? Explain the Quantity Theory of Money, (equation), and explain the controversy over the concepts of velocity and the demand for money? Using the Money Market graph, show how a Keynesian and a Monetarist view the dilemma, (and potential instability), of targeting either interest rates or money supply? Why are the Monetarists less important now?
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