When Milton Friedman Said That "Inflation Is Always and Everywhere

question 8

Multiple Choice

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

• A) one-shot inflation.
• B) continued inflation.
• C) a and b
• D) neither a nor b

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Definitions:

African Slaves

People from Africa who were forcibly transported to the New World and sold into chattel slavery, primarily between the 16th and 19th centuries.

Rice Cultivation

The practice of growing rice as a crop, which is a staple food in many parts of the world, especially in Asia.

Louisiana Code Noir

A set of laws enacted in 1724 governing the conduct, treatment, and legal status of slaves in the French colony of Louisiana.

Slaves

People who are owned and compelled to work for others, often without any personal freedoms or rights, historically prevalent across various societies.