Nobel Laureate Milton Friedman Is Known for His Assertion That

question 4

Multiple Choice

Nobel laureate Milton Friedman is known for his assertion that,

• A)"Inflation is caused solely by government budget deficits."
• B)"Inflation is always and everywhere a monetary phenomenon."
• C)"The evils of inflation are greatly overrated."
• D)"Inflation is the opium of the masses."

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Definitions:

Consumers

Individuals or groups that purchase goods and services for personal use, not for manufacturing or resale.

Economy

A system of production, distribution, and consumption of goods and services within a particular geographic region, governed by supply and demand.

Target Markets

The specific group of consumers at whom a company aims its products and services.

Mall of America

A large shopping mall located in Minnesota, USA, known for being one of the largest malls in the country by total area and stores.