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.
The answer to this question is a
Answer:
Kansas
Explanation:
The conflicts that arose between pro-slavery and anti-slavery settlers in the aftermath of the act’s passage led to the period of violence known as Bleeding Kansas.
Answer:
The U.S. Navy's decisive victory in the air-sea battle (June 3-6, 1942) and its successful defense of the major base located at Midway Island dashed Japan's hopes of neutralizing the United States as a naval power and effectively turned the tide of World War II in the Pacific.
Explanation:
