According to the Quantity Theory of Money, Ultimate Control Over

question 40

Multiple Choice

According to the quantity theory of money, ultimate control over the rate of inflation in the United States is exercised by:

• A)the Organization of Petroleum Exporting Countries (OPEC).
• B)the U.S. Treasury.
• C)the Fed.
• D)private citizens.

---

Definitions:

John Locke

An influential 17th-century English philosopher known for his theories on liberty, political government, and the mind as a "blank slate" or tabula rasa.

Global North

A term used to refer to the wealthier, industrialized countries located primarily in the Northern Hemisphere, which are often contrasted with the developing countries of the Global South.

Wealth

A measure of the value of all the assets of worth owned by a person, community, company, or country.

Karl Marx

A 19th-century philosopher, economist, and revolutionary socialist who developed a critical analysis of capitalism and its societal impacts.