Examlex
The ______ is to be assessed by reference to basic benefit to individuals who would otherwise be economically disadvantaged.
Friedman
Refers to Milton Friedman, a prominent economist known for his work on monetarism, advocating for free markets and a limited role of government in the economy.
Money Supply
The total volume of money available in an economy at a specific time, including cash, coins, and balances held in checking and savings accounts.
Nominal Variable
Refers to a variable measured in monetary terms but not adjusted for inflation, reflecting current prices.
Real Variable
A variable, such as income or output, that has been adjusted for inflation, reflecting true purchasing power.
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