Study Guide to Man, Economy, and State with Power and Market

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Chapter 11: Money and Its Purchasing Power 151 necessary; Rothbard achieves it here by multiplying the left fraction by [ (hats) / (hats) ] and the right fraction by [ (pounds of sugar) / (pounds of sugar) ].
152 Study Guide to Man, Economy, and State with Power and Market Study Questions 1. Why does Rothbard say that the exchange demand curves for money will tend to be perfectly inelastic? (p. 757) 2. Why is each of the components of the total demand curve for money downward sloping? (pp. 757–60) 3. The total demand for money is the summation of the (pre-income) exchange demand and the (post-income) reservation demand (pp. 756–61). Suppose a man sells a car for 10 ounces of gold, and then decides to hold this 10 ounces of money in his cash balance. Do his actions count as the demand for 20 ounces of gold? 4. Why does Rothbard depict the supply of money as a vertical line? (p. 763) As the PPM of money rises, wouldn’t that induce people to mine more gold, etc.? Is Rothbard saying that the supply of money, unlike other goods, isn’t upward sloping? 5. Rothbard says that “the ‘price’ of money is precisely the variable on which the demand schedule depends” (p. 765). Isn’t this true of all commodities? 6. Is speculation in money simply a matter of “selffulfilling prophecies”? (pp. 769–71)
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STUDY GUIDE TO MAN, ECONOMY, AND ST
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STUDY GUIDE TO MAN, ECONOMY, AND ST
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CONTENTS INTRODUCTION . . . . . . .
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In June of 2004, I became convinced
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Introduction ix appropriate, I have
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Chapter Summary In a money economy,
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Chapter 4: Prices and Consumption 4
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Chapter Summary In the evenly rotat
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Chapter 6: Production: The Rate of
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Chapter Summary This chapter explai
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Chapter 7: Production: General Pric
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Chapter Summary Entrepreneurial pro
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Chapter Summary Society is composed
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Chapter 4: Binary Intervention: Tax
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Chapter Summary There has been litt
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Apriorism, 1, 9 Ability-to-pay prin
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Index 251 Equilibrium, 47, 104 macr
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Index 253 Medium of exchange, 27, 3
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Index 255 See also Economy, Evenly
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