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The Economics of Money, Banking, and Financial Markets 10th Edition by Frederic Mishkin
Edition 10ISBN: 978-0132763646The Economics of Money, Banking, and Financial Markets 10th Edition by Frederic Mishkin
Edition 10ISBN: 978-0132763646 Exercise 2
Suppose a researcher discovers that a measure of the total amount of debt in the U.S. economy over the past twenty years was a better predictor of inflation and the business cycle than M1 or M2. Does Lhis discovery mean that we should define money as equal to the total amount of debt in the economy?
Explanation
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It is not correct to define money as equ...
The Economics of Money, Banking, and Financial Markets 10th Edition by Frederic Mishkin
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