Milton Friedman's Assertion That "Inflation Is a Monetary Phenomenon" Is

question 33

Multiple Choice

Milton Friedman's assertion that "inflation is a monetary phenomenon" is based on:

• A) the quantity theory of money.
• B) the assumption of constant nominal GDP growth.
• C) the assumption that the price level grows at the same rate as real GDP.
• D) the assumption that the central bank increases the money supply by a constant rate every year.

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A congressional interest group consisting of conservative Republican members of the United States House of Representatives seeking to push the party's agenda towards more extreme positions.

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