Question

Sentential Logic Translation:

1. If the Monetarists (M) are right, then there is an increase in inflation (I) if and only if the money supply increases too fast (F). If the Keynesians (K) are right, then there is an increase in inflation if and only if there is a decrease in unemployment (D). If the Libertarians (L) are right, there is an increase in inflation if and only if the federal government spends more than it takes in (S). The money supply increases too fast only if taxes are too low (T), and the federal government spends more than it takes in only if taxes are too low. There is no decrease in unemployment and taxes are not too low, but there is an increase in inflation. Therefore, neither the Monetarists, nor the Keynesians, nor the Libertarians are right.

C ) More jobs (J) will be created and the economy (E) will improve only if government spending (G) is increased and taxes (T) are not raised; however, the deficit (D) will be reduced only if taxes are raised and government spending is not increased, and the economy will improve if and only if the deficit is reduced

Answer 1