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
Why was it important for Lincoln to wait to issue the Emancipation Proclamation?​
dedylja [7]

Answer:

It was important to have popular support beforehand

Explanation:

It isn't a good answer tho. Lincoln wanted to strip the South of its labor force, and wished many of the slaves that were freed of the south would move to the North and unite with the Union Army. He needed some Union victories to make it more appealing, as the Northern armies were suffering after defeat. So after Antietam victory, he decided to issue the proclamation freeing the slaves that were in the South, but not the ones that were in the Northern "border" states. Such is life in politics.

3 0
3 years ago
Read 2 more answers
What is the legal duties​
Andrews [41]
Legal duty. n. the responsibility to others to act according to the law. Proving the duty (such as not to be negligent, to keep premises safe, or to drive within the speed limit) and then showing that the duty was breached are required elements of any lawsuit for damages due to negligence or intentional injuries.
4 0
3 years ago
Read 2 more answers
How can you know if the person or organization providing the information has the credentials and knowledge to speak on this topi
alisha [4.7K]

Answer:

She is on staff at the Center for Food Safety (CFS)          

Explanation:

The person speaking on a particular topic must have the knowledge and credentials over the subject domain. By seeing the type of domain name in the website, it can be found out that the domain name is ".org" which means the person writing belongs to a non profit organization.

Hence the writer is a staff member at the Center for Food Safety which is a non for profit organization in the United States of America. Its main function is to protect the human health and protect the environment. It also focuses on the new techniques for food production.

4 0
3 years ago
Why is Saul a significant leader in the history of the Hebrew people?
vfiekz [6]

Answer:

Saul was a Hebrew judge who helped rule the tribes.

7 0
3 years ago
Read 2 more answers
This is the actual PNG!
DIA [1.3K]

Answer:

I am not certain what you need, it is straight forward.

a. Figure open circuit voltage Vab. That seems easy...you have V3+V2 equal to Vs Remember V3 has two currents thru it, 20ma + the current due to Vs. Vab= V3

Next, find short circuit current, you have Iab=I2-20mA

given that, you can deduce the Thevelin equivalent directly.

4 0
3 years ago
Read 2 more answers
Other questions:
  • Which state would be most affected by the cultural diffusion of a new brand of cold weather clothing from a company based in Col
    11·1 answer
  • A disability often distinguishes individuals from the majority and is both internalized and outwardly stigmatizing. when experie
    6·1 answer
  • A young child watches her mother make pancakes. she wants to please her mother so she pays attention. however, when she goes to
    11·1 answer
  • What was the purpose of the ghazu in the years before islam ?
    9·2 answers
  • Statements such as "Managers control; leaders inspire" represent a view that leaders and managers are fundamentally different ki
    8·2 answers
  • The Koran is the sacred book of what religion?
    9·2 answers
  • Luz, who is skydiving, is traveling at terminal velocity when she changes position by going headfirst toward the ground. What ha
    5·2 answers
  • This shows that we still have a long way to go with regards to womens rights and gender equality worldwide.Do you agree with the
    14·1 answer
  • What do the current borders separating African countries from one another generally reflect?
    10·1 answer
  • According to erikson's psychosocial stages, the term to describe older people focusing on accepting their lives as well as their
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!