Asked by Jonah Marukot on May 25, 2024
Verified
Milton Friedman's macroeconomic theory and political philosophy have the relationship one would expect.He is a
A) Keynesian and a political liberal.
B) new classical macroeconomist and a political liberal.
C) monetarist and a political conservative.
D) supply-sider and a political conservative.
Macroeconomic Theory
Macroeconomic theory involves the study and analysis of economy-wide phenomena, including inflation, national income, and unemployment.
Political Philosophy
A branch of philosophy focused on discussing and analyzing various views about who should rule, the nature of just governance, and the role of citizens in a state.
Monetarist
An economist who believes that variations in the money supply are the main source of economic fluctuations.
- Analyze the central doctrines and policy endorsements from Keynesian, monetarist, and new classical economic thinkers.
- Comprehend Milton Friedman's monetarist theories and their impact on economic policy.
Verified Answer
FN
Fatin Najwa RamliMay 25, 2024
Final Answer :
C
Explanation :
Milton Friedman was a leading monetarist economist who believed in the importance of controlling the money supply to regulate the economy. He was also a political conservative who advocated for limited government intervention in the economy and greater individual freedom. This is reflected in his support for free market policies and opposition to government welfare programs.
Learning Objectives
- Analyze the central doctrines and policy endorsements from Keynesian, monetarist, and new classical economic thinkers.
- Comprehend Milton Friedman's monetarist theories and their impact on economic policy.