1. On what does the demand for money depend: current income, wealth or permanent income? Or does it directly depend upon neither of them but on the consumption expenditures of households and the output of ?rms? If so, why is money demand usually speci?ed as a function of income?
2. What were the views of Keynes and Friedman on the exogeneity or endogeneity of the money supply? What justi?es their views?
What were the views of Wicksell on the exogeneity or endogeneity of the money supply? What justi?es his views?