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52
According to the Monetarist Interpretation of the Great Depression, what was the primary cause? What caused the decrease in M? Monetarists view the higher ratio of money to GDP as evidence of what?
Primary cause: Decline in M
banks surviving bank failure increased their reserve holdings.
High money to GDP ratio is evidence of hoarding.
banks surviving bank failure increased their reserve holdings.
High money to GDP ratio is evidence of hoarding.
Flashcard info:
Author: savhighsmith
Main topic: Economics
Topic: History of Economics
School / Univ.: UGA
City: Athens
Published: 11.12.2010