Suppose your local Congress representative suggests that the federal government intervenes in the gasoline market to stop runaway price increases. Would you say that this view basically supports the Keynesian or the Monetarist school of thought? Why? What position would the opposing school of thought take on this issue? (Be brief—you can answer this in two or three brief paragraphs.)

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Keynesian is an economic theory that states an increase in demand of goods by the government boosts the growth of the economy It is believed in tis th... View the full answer