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Home History of Money Definition of Money According to Monetarists

 

Definition of Money According to Monetarists or Modern Definition of Money:

 

The monetarists which are known as modern friends of classical economists have much more similarity regarding different issues. However, they also differ in certain fields. In connection with money monetarists say:

 

"Money Matters Very Much".

 

It means that according to monetarists money in an economy plays a very vital role. They say that aggregate expenditures of the economy are influenced by the changes in the rate of interest As a result, the level of income and employment can be affected. But it is confined to just short run. In case of long run there is always existing a natural rate of unemployment. It means that whenever through easy fiscal and monetary policies aggregate demand is increased, the level of unemployment will come down. But whenever aggregate demand is controlled prices will be stabilized, but economy will experience the same level of unemployment which the economy faced before increase in aggregate demand.

 

Relevant Articles:

 

Barter System and its Inconvenience
Evolution of Money and Different Standards of Payments
Definition and Concept of Money
Definition of Money According to Classical Economists
Definition of Money According to Keynesian Economists
Definition of Money According to Monetarists
Representative Money or Modern Money/Plastic Money/Electronic Money
Functions of Money
Role and Importance of Money
Properties/Qualities/Merits of Good Money
Demerits of Money
Money and Near Money
 

Principles and Theories of Micro Economics
Definition and Explanation of Economics
Theory of Consumer Behavior
Indifference Curve Analysis of Consumer's Equilibrium
Theory of Demand
Theory of Supply
Elasticity of Demand
Elasticity of Supply
Equilibrium of Demand and Supply
Economic Resources
Scale of Production
Laws of Returns
Production Function
Cost Analysis
Various Revenue Concepts
Price and output Determination Under Perfect Competition
Price and Output Determination Under Monopoly
Price and Output Determination Under Monopolistic/Imperfect Competition
Theory of Factor Pricing OR Theory of Distribution
Rent
Wages
Interest
Profits
Principles and Theories of Macro Economics
National Income and Its Measurement
Principles of Public Finance
Public Revenue and Taxation
National Debt and Income Determination
Fiscal Policy
Determinants of the Level of National Income and Employment
Determination of National Income
Theories of Employment
Theory of International Trade
Balance of Payments
Commercial Policy
Development and Planning Economics
Introduction to Development Economics
Features of Developing Countries
Economic Development and Economic Growth
Theories of Under Development
Theories of Economic Growth
Agriculture and Economic Development
Monetary Economics and Public Finance

History of Money
 

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