According to the quantity theory,inflation is ultimately controlled by

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According to the quantity theory, inflation is ultimately controlled by the monetary authorities who control the money supply. This theory suggests that if the money supply increases faster than the growth rate of the economy, then inflation will occur. Therefore, the monetary authorities play a significant role in controlling and preventing inflation by managing the money supply. Private firms may set prices, but ultimately, the money supply controls the level of inflation. The control of output and the price of oil may affect inflation to some extent, but they are not the primary determinants of inflation according to the quantity theory.

According to the Quantity Theory,inflation Is Ultimately Controlled by