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Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383

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BuyFindarrow_forward

Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383
Textbook Problem

It has been suggested that nonactivists are not concerned with the level of Real GDP and unemployment because most (if not all) nonactivist monetary proposals set stabilization of the price level as their immediate objective. Discuss.

To determine

Reflection of non-activist monetary policy in unemployment and the real GDP.

Explanation

Non-activists argue the rule based monetary policy and it likely to be stabilizing. They believe in the laizzes fair policy and in the invisible hand. According to non-activist, the normal situation of the economy is full employment...

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