Economic Thought-Keynesian and Monetarist Schools of Thought (IEcoS (Economic Services) Economics Paper-2): Questions 1 - 1 of 1

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Question number: 1

» Economic Thought » Keynesian and Monetarist Schools of Thought

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Appeared in Year: 2016

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What are the basic characteristics of monetarist school of thought?

Explanation

The monetarist school is generally associated with American economist Milton Friedman. This school maintains that the money supply is the key determinant on the demand side of short run economic activity.

  • Monetarist economists believe that the role of government is to control inflation by controlling the money supply.

  • Monetarists believe t

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