https://www.youtube.com/watch?v=mJ7ZgbWHJPQ. In the video, Dr. Milton Friedman explains a bit about inflation. What is he saying here, and why do you think it may have relevance on what we're discussing now? Does the price increase resulting from inflation have a time lag, and if so, what implications would that have for an economy that experiences inflation?

The assignment requirements are as follows: you must include good economic reasoning and logic in your response. Your response must be well thought out and easy to follow, as not everyone is familiar with economics and you'll want to be understood by all when you explain your position, you must write a minimum of 100 words in your initial post. For the responses you make to your peers, you must be clear and concise, as well as kind and considerate of the opinions of others. There is not a minimum word count requirement, but if you simply make a response to check the box and it doesn't make sense or is a simple statement such as 'good job' or 'nice post', that will not be considered as a response. It must be a thoughtful response to the opinion of another, not an affirmation of the existence of that opinion.