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Each of the Following Was Part of Milton Friedman's Critique

Question 10

Multiple Choice

Each of the following was part of Milton Friedman's critique of the dominant tradition in macroeconomics in the 1960s except


A) then-standard models greatly overestimated the government's ability to manage and control the
Economy.
B) then-standard models greatly underestimated the power of fiscal policy and greatly overestimated the power of monetary policy.
C) then-standard models neglected the role of expected inflation and its role in positioning the Phillips curve.
D) the measurement of the money supply told you most of what you needed to know about how economic policy was working.

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