Answer and Explanation:
Phelps criticized Friedman's position, because he said it was totally irrelevant to analyze the tax functions of inflation without assessing product demand, as Friedman suggested in his theory. He stated that this would only be possible if there was a way to predict an optimal rate of inflation in different situations of demand and supply, otherwise, in Phelps' words it would be the same as "Professor Friedman gave us Hamlet without a prince".
Phelps' positioning would be better considered by the RBC model, since this model is based on real and not imaginary facts.
A select committee is a small legislative committee scheduledfor a special reason. Hope this helps.
<u>Answer:</u>
In the 19th century, the Irish people came to migrate with America but they were not welcomed well there. They were discriminated by the Americans and were called as lethargic and dumb people who did not have any intelligence.
They had to compete with the blacks for work which offered low salaries. These people were termed as drunkards and they were seen as criminals also. But this discrimination was protested by the Irish people.
The French and Indian War affected the political relationship between Britain and its American Colonies because Britain abandoned its policy of Salutary Neglect and increased their authority over colonial politics.The French and Indian war altered the economic relationship between Britain and its American colonies because it created a war debt and caused Britain to levy taxes on the colonies.
The French and Indian War altered the ideological relations between Britain and its colonies because all the regulations and taxes caused the co<span>lonies to have feelings of resentment toward Britain.
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