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Economics-2014: Answer Writing Challenge – 9


10 September 2014

Q1) Is Friedman’s quantity theory of money close to Classical or Keynesian approach to the aggregate demand for money?Give justifications for your arguments. (150 words)

Q2) Monetarist are of the view that only money does and Keynesian believe that money does not matter. What is your reasoning of the extreme views held by the monetarist and the Keynesians ? (200 words)