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Unformatted text preview: 19: mistaken belief that stimulating the economy would permanently decrease unemployment rate 20: if real output is growing, money supply and V are constant than prices must fall (deflation) 21: prices were falling but burden of debt increase even though earning less income 22: Free Silver= unlimited NOT free 24: not all central bankers are independentsome can come about political pressure-Example: Nixon-Policy makers dont want to be the ones to increase unemployment 25: government introducing money- reduce purchasing power of previous moneyseniorage revenue 28: 30,000% Monthly Rateprices go up per customer 32: inflation cannot reduce living standards on average (not everybody is worse off) 36: increases disparity of incomesocial unrest and unhappiness...
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