1. Professors Don _________ and Franco _________developed the adjustment-process model used in this chapter.
2. Keynes s objection to Say s law was that it is possible for demand to create its own supply. _________ (True/False)
3. Today, some economists might claim that Says law holds in the _________ run, but not the _________ run.
4. David Ricardo and John Stuart Mill are known as _________ economists.
5. Milton Friedman and the Great Depression
Economist Milton Friedman was an opponent to activist stabilization policy. His views on economic policy were greatly influenced by his interpretation of the Great Depression. Search the Web for discussions of Friedman s views on the Great Depression and discuss how they may have affected his attitudes toward stabilization policy. You may want to start with the entry at www.econlib.org/library/Enc/bios/Friedman.html (accessed April 21, 2010)