When Milton Friedman Said That Inflation Is Always and Everywhere

question 124

Multiple Choice

When Milton Friedman said that inflation is always and everywhere a monetary phenomenon,he was referring to

• A) one-shot inflation
• B) supply-induced inflation
• C) continued inflation
• D) hyperinflation (high rates of inflation)
• E) all kinds of inflation

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Definitions:

Identical Processes

Processes that are exactly the same in every aspect, often used in scientific experiments to ensure replicability and reliability.

Somatoform Disorder

A mental disorder characterized by physical symptoms that have no apparent physical cause, indicating that psychological factors may be involved.

Cognitive Psychologist

A professional who studies mental processes such as perception, memory, problem-solving, and decision-making.

False Beliefs

Concepts or ideas that are accepted as true despite lacking evidence or logical backing.