Tarjetas de Milton Friedman: Monetarismo y su Legado
Milton Friedman: Monetarismo y su Legado - Análisis Completo
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Milton Friedman and Monetarism
17 tarjetas
Tarjeta 1
Pregunta: Who was Milton Friedman and when was he born?
Respuesta: An American economist and intellectual of Jewish origin, born in New York on July 31, 1912.
Tarjeta 2
Pregunta: Which major prize did Milton Friedman receive and in what year?
Respuesta: The Nobel Prize in Economics in 1976.
Tarjeta 3
Pregunta: With which school of economic thought is Milton Friedman most closely associated?
Respuesta: The Chicago School and monetarism; he is a leading representative of monetarists.
Tarjeta 4
Pregunta: What is the core monetarist idea Friedman promoted about money and inflation?
Respuesta: There is a clear relationship between the amount of money in circulation and inflation; controlling money supply growth controls inflation.
Tarjeta 5
Pregunta: What monetary policy did Friedman recommend to control inflation?
Respuesta: Limit the growth of the money supply to a constant and moderate annual rate and supervise base money effectively.
Tarjeta 6
Pregunta: How did Friedman’s view differ from Keynes regarding consumption?
Respuesta: Keynes said consumption depends on current period income; Friedman proposed consumption depends on permanent (long-term) income.
Tarjeta 7
Pregunta: How did Friedman modify the Phillips Curve concept?
Respuesta: He introduced the role of expectations, correcting the Phillips Curve by emphasizing expected inflation's effect.
Tarjeta 8
Pregunta: What metaphor did Friedman use to illustrate the effects of printing money, and what is its conclusion?
Respuesta: The 'helicopter' metaphor: dropping money uniformly makes nominal prices rise but does not increase real goods or productive capacity, causing inflati
Tarjeta 9
Pregunta: According to Friedman’s helicopter example, why does printing money not improve real living standards?
Respuesta: Because extra money increases nominal prices without increasing raw materials, goods, services, or productive capacity, so real purchasing power does
Tarjeta 10
Pregunta: How did Friedman view government intervention and public-sector actions to stabilize the economy?
Respuesta: He was strongly opposed to state intervention in aggregate demand and public-sector actions aimed at economic stabilization; he favored free markets a