According to the Monetarists, the money supply is a major factor determining

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Monetarists believe that changes in the money supply have a direct impact on aggregate demand, as an increase in the money supply leads to an increase in spending, causing a shift in the aggregate demand curve. Conversely, a decrease in the money supply leads to a decrease in spending, causing a shift in the aggregate demand curve in the opposite direction.

According to the Monetarists, the Money Supply Is a Major