Question

The view that anticipated changes in the money supply will have no effect on the economy's output would most likely be a proposition of:________

Answer 1

The view that anticipated changes in the money supply will have no effect on the economy's output would most likely be a proposition of quantity theory.

In monetary economics, the quantity theory of money (regularly abbreviated as TQM) is one of the directions of Western monetary concepts that emerged within the sixteenth-17th centuries.

The TQM states that the general price degree of goods and offerings is at once proportional to the amount of money in the stream, or money delivers. As an example, if the amount of cash in an economy doubles, TQM predicts that fee ranges will also double.

The principle turned into firstly formulated via Renaissance mathematician Nicolaus Copernicus in 1517, and become influentially restated by means of philosophers John Locke, David Hume, and Jean Bodin. The idea experienced a massive surge in popularity with economists Anna Schwartz and Milton Friedman's book A monetary history of the US, posted in 1963.

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