What Did Milton Friedman Mean by Saying That "Inflation Is

question 58

Multiple Choice

What did Milton Friedman mean by saying that "inflation is always and everywhere a monetary phenomenon"?

• A) Inflation only affects those who hold money,as savings or in the form of investments.
• B) Inflation is due to cash transactions,not transactions based on credit.
• C) In any economy that uses money as a medium of exchange,there will always be some inflation.
• D) Inflation is about rising prices,not about rising productivity.
• E) Inflation is caused by an increase in the money supply relative to the quantity of goods and services.

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Definitions:

Lymphatic Vessels

Thin-walled tubes that carry lymph, a fluid containing white blood cells and waste products, back towards the heart to be returned to the blood circulation.

Red Pulp

A tissue in the spleen composed of blood-filled sinuses and spaces filled with macrophages, playing a role in filtering blood.

White Pulp

Lymphatic tissue in the spleen composed mainly of lymphocytes and responsible for the immune response.

Thoracic Duct

The thoracic duct is the largest lymphatic vessel in the human body, transporting lymph and chyle from the lymphatic system into the bloodstream.