Habits Are Primarily Influenced by the ________________ System

question 145

Short Answer

Habits are primarily influenced by the ________________ system.

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Definitions:

Monetarists

Economists who believe that variations in the money supply have major influences on national output in the short run and the price level over longer periods, and that objectives of monetary policy are best met by targeting the growth rate of the money supply.

Real GDP

The market value of all final goods and services produced within a country in a particular period, adjusted for inflation.

Money Stock

The total amount of money in circulation within an economy at a given time, including cash and deposits.

Laffer Curve

A theoretical representation of the relationship between tax rates and government revenue, suggesting there is an optimal tax rate that maximizes revenue.