The main authors of broad money are
A) Marshall, J.M. Keynes, A.C. Pigou
B) Gurly-shaw, Milton Friedman, Radcliff Committee
C) Paul krugman, Irving fisher, robertson
D) Ricardo , Adam smith, say
Answers
Answer:
In the diagram, income is measured horizontally and consumption is measured vertically. ... “Thus the consumption function measures not only the amount spent on consumption but also the amount saved. This is because the propensity to save is merely the propensity not to consume.
The main authors of broad money are B) Gurly-shaw, Milton Friedman, Radcliff Committee.
What is broad money?
Broad money is a concept where the amount of money flowing in an economy is measured.
Radcliff's contribution:
The Radcliff committee worked on the liquidity theory by giving a report on the Working of the Monetary System (1959) and contributed to the concept of broad money.
Gurly-Shaw's contribution:
As per his theory, non-banking companies provide liquidity and financial safety to the economy.
Milton Friedman's contribution:
He is known for his monetarism theory which focuses on changes in money supply after economic growth.
Hence, all the three economists contributed to the concept of broad money and mainly using their theories.