_____25. Friedman’s view of inflation was that it is caused by: excessive levels
ID: 1208370 • Letter: #
Question
_____25. Friedman’s view of inflation was that it is caused by:
excessive levels of aggregate demand.
the government printing too much money.
the absence of gold backing the currency.
all of the above.
none of the above.
_____26. The only way to cure inflation according to Friedman was:
a reduction in the rate of monetary growth.
a tax increase and a reduction in government spending.
reduce the amount of output.
reduce the number of consumers.
no statement is true (especially ‘D” who would advocate killing people?)
_____27. What Friedman meant by “the tide is turning” was:
time was running out for us to make necessary corrections.
most people’s opinions were turning away from his.
atmospheric pressures were messing around with the ocean’s tides.
that the U.S. Government was getting larger and more in control.
that at the time Friedman had written his book, he felt that the U.S. Government was turning to more economic freedom and limited governmental control.
_____28. According to Friedman, if monetary policy is legislated under one rule it should be the rule pertaining to the level of:
stock of money.
prices.
output.
inflation.
employment.
Explanation / Answer
25 the government printing too much money.
26. a reduction in the rate of monetary growth.
27. that at the time Friedman had written his book, he felt that the U.S. Government was turning to more economic freedom and limited governmental control.
28. stock of money.
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