1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
andrew-mc [135]
2 years ago
8

Milton Friedman discussed the possibility of setting the marginal social cost of printing one more unit of money to zero, implyi

ng that the real interest rate should be equal to the rate of deflation in the economy, but not everyone agreed with this. What reasoning did Phelps (1973) provide to argue against Friedman's rule? Which interpretation would be correct in the RBC model? Why?​
Social Studies
1 answer:
Ugo [173]2 years ago
8 0

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.

You might be interested in
Blackstone's Commentaries on the Law is most well know for explaining
kondaur [170]

Answer:

- Common laws

-  Precedent

Explanation:

'Blackstone's Commentaries on the Law of England' is popularly known for elaborating the '<u>common law</u>.' It is characterized as the 'law about the law' which implies that the text penned by Sir William Blackstone functioned to establish the extensive principles of truth, integrity, and justice.

'<u>Precedent</u>' is characterized as the prior decision or judgment of the court that is used as a citation, analogy, or example to resolve a similar dispute in the future. Thus, it allows in developing better assimilation of the law and take future decisions(in similar cases) by using precedents as the reference.

5 0
2 years ago
&lt; PLEASE HELP ME I'LL GIVE BRAINLIEST &gt;
creativ13 [48]

Explanation:

The abolitionist movement was an organized effort to end the practice of slavery in the United States. The divisiveness and animosity fueled by the movement, along with other factors, led to the Civil War and ultimately the end of slavery in America.The abolitionist movement was the social and political effort to end slavery everywhere. Fueled in part by religious fervor, the movement was led by people like Frederick Douglass, Sojourner Truth and John Brown.Abolitionism in the United States was the movement that sought to end slavery in the United States, and was active both before and during the American Civil War. In the Americas and Western Europe, abolitionism was a movement that sought to end the Atlantic slave trade and to free the slaves.

8 0
2 years ago
Read 2 more answers
An importante philosophical idea during the Enlightenment was that
kenny6666 [7]

Answer:

The evidence of the senses and the realm of logic should be the primary way a man bases his thoughts and opinions on

Explanation:

5 0
3 years ago
___ processing occurs when there is no necessary involvement of conscious awareness (e.g., typing on the keyboard without lookin
pogonyaev

Answer:     Implicit; explicit

Explanation:  When it comes to typing without looking at the keyboard, it means that some previous experiences are being used which is why it is said to take place without the need for conscious awareness, then it is implicit processing. It is actually the use of automatic memory, as this processing is otherwise called, when past experiences are used no matter how long they have not been used. Implicit processing i.e automatic learning is like cycling, swimming or driving a car, once learned it can always be repeated even after a long time.

Explicit processing is also the so-called explicit memory, which involves the conscious processing of information and its memorisation, therefore it uses conscious awareness. This means that learning and gathering information is not automatic as in implicit processing, but is fully conscious. In aforementioned car driving, the driving skill itself is related to automatic, implicit memory, while the memory of a particular driving lesson is associated with explicit memory, i.e processing.

4 0
3 years ago
Cultural relativism represents Group of answer choices a philosophical position arguing that all cultures, no matter how differe
musickatia [10]

A philosophical position arguing that all cultures, no matter how different, are correct and moral for people of those cultures represents Cultural Relativism.

<h3>What is Cultural Relativism?</h3>

Cultural relativism refer to the Act that someone's belifs or ideas or practices or culture is value and understood from the point of view of that culture and judgements is avoided.

That is one's culture or practice is valued withing making judgments on such culture.

Therefore, A philosophical position arguing that all cultures, no matter how different, are correct and moral for people of those cultures represents Cultural Relativism.

Learn more on Cultural Relativism from the link below.

https://brainly com/question/15124055

5 0
2 years ago
Other questions:
  • which of the following is true? a. Government policies usually improve upon both equality and efficiency. b. Efficiency refers t
    11·2 answers
  • Today, Shintoism is practiced alongside __________.
    14·2 answers
  • The Baltimore Bashers, a semi-professional football team, has been very successful this season. When interviewed, the head coach
    9·1 answer
  • Alexander the great spread Greek Greek culture throughout the world by
    12·1 answer
  • who expressed the church's longstanding opinion that marriage is a sacrament that give grace to the couple on their journey towa
    10·1 answer
  • Motivation is a force that influences your actions. please select the best answer from the choices provided t f
    14·2 answers
  • Employee 1 is an employee of Employer 1 in 2017. In 2017, Employee 1 has authorized access to Employer 1's confidential files. I
    8·1 answer
  • Recall the last four lines of the poem: “Life doesn’t frighten me at all / Not at all / Not at all. / Life doesn’t frighten me a
    7·2 answers
  • Many researchers have proven that _____________ (also referred to as ""faith-based approaches"". can be seen as a ""hook""—somet
    5·1 answer
  • Which options would meet matt’s needs? check all that apply. getting a work-study job taking out a private loan applying for fed
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!