In a Study Published in 1963,Milton Friedman and Anna Schwartz

question 30

Multiple Choice

In a study published in 1963,Milton Friedman and Anna Schwartz found that in every business cycle they studied over nearly a hundred-year period

• A)the growth rate of the money supply decreased before output decreased.
• B)interest rates decreased before output decreased.
• C)the growth rate of federal government spending decreased before output decreased.
• D)the growth rate of state and local government spending decreased before output decreased.

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Definitions:

Mala Prohibita

Refers to acts that are crimes only because they are prohibited by law, not because they are inherently immoral or harmful.

Unlawful Act

An action that is forbidden by law or legislation.

Statute

A written law passed by a legislative body at the federal, state, or local level, which governs society and is enforceable by the courts.

Summary Judgment

A summary judgment is a legal determination made by a court without a full trial, granted when there is no dispute over the material facts of the case and one party is entitled to judgment as a matter of law.