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Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383

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BuyFindarrow_forward

Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383
Textbook Problem

What type of inflation is Milton Friedman referring to when he says that “inflation is always and everywhere a monetary phenomenon?”

To determine

Inflation.

Explanation

Milton Friedman refers to continued inflation when he makes the statement that “inflation is always and everywhere a monetary phenomenon”. According to him, the continued increase in money supply leads to a continued increase in the aggregate demand, resulting in the continued inflation...

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