There are frequently years when the inflation rate is high and yet money growth is quite low.

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There are frequently years when the inflation rate is high and yet money growth is quite low. Therefore, statement that inflation is a monetary phenomenon cannot be correct. Comment.

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Economics of Money, Banking and Financial Markets

ISBN: 978-0321598905

9th Edition

Authors: Frederic S. Mishkin

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Question Posted: Aug 12, 2012 04:35 AM

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There are frequently years when the inflation rate is high and yet money growth is quite low.

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The evidence in this quote does not cast doubt on the statement that infla...View the full answer

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