Milton friedman argued that consumers are more likely to alter their behavior based on.

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02-08-2022
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Milton friedman argued that consumers are more likely to alter their behavior based on.

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tutorconsortium343 tutorconsortium343 · Answer 1 · 2022-08-07T16:18:49+02:00

Milton Friedman argued that consumers are more likely to alter their behavior based on changes in the long-term changes in the economy.

About Milton Friedman :

Milton Friedman gave a economic theory called monetarism, that refer to the control of money in the economy. Friedman gave an idea that changes in the money supply have long-term and short term effects.

Friedman argued that consumer behavior is influenced by the long-term changes in the economy. Long term changes in economy influence consumer behavior in spending money for their goods. for example: If Long term changes in economy are positive then the consumption by consumers increases otherwise it will decrease.

Hence, the correct answer is "long-term changes in the economy."

The missing part of question is :

changes in the unemployment rate.

short-term changes in the economy.

long-term changes in the economy.

changes in the inflation rate.

Learn more about Milton Friedman :

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