A fundamental disagreement between Keynesian and monetarist economics is th
A fundamental disagreement between Keynesian and monetarist economics is the question of what this value is for the LM curve; for Keynesians it is very high, but for monetarists it is nearly zero. The "arc" kind of this quantity eliminates biases caused by the choice of the start point in the traditional formula for the "cross" kind of it, which measures the relationship between one good's price and the demand for a second good. Goods which one cannot live without have a low value of this quantity. For 10 points, identify this economic quantity that measures how much some curve, such as demand, can change in response to various conditions.
A fundamental disagreement between Keynesian and monetarist economics is the question of what this value is for the LM curve; for Keynesians it is very high, but for monetarists it is nearly zero.
elasticity