Economists before the 1940s were most likely to call a rise in asset prices inflation, as long as it is accompanied by an increase in:
A)the money supply.
B)GDP.
C)goods inflation.
D)a price index.

Question

Quizplus · Accepted Answer

Economists before the 1940s typically associated inflation with an increase in the money supply, which could lead to a rise in asset prices as more money chased the same amount of goods or assets, causing their prices to increase.

Economists Before the 1940s Were Most Likely to Call a Rise