Two Assumptions Made in Gordon's Early Presentation of the IS-LM

question 79

Multiple Choice

Two assumptions made in Gordon's early presentation of the IS-LM model were that the Federal Reserve has ________ control of the money supply and that the money demand function ________ subject to instability.

• A)precise,is
• B)precise,is not
• C)imprecise,is
• D)imprecise,is not

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Definitions:

Ethnocentrism

The principle of using one’s own culture as a means or standard by which to evaluate another group or individual, leading to the view that cultures other than one’s own are abnormal or inferior.

Ethnocentrism

The belief in the inherent superiority of one's own ethnic group or culture, often accompanied by a tendency to judge other cultures by one's own cultural standards.

Sociologists

Scholars who study the development, structure, and functioning of human society, as well as social problems and interactions within it.

Anthropologists

Scientists who study human societies, cultures, and their development over time.