Connections between the money supply and nominal GDP and between money supply growth and inflation are key concepts in the _____ school of thought in economics.

Question

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The monetarist school of thought, most closely associated with economist Milton Friedman, emphasizes the role of governments in controlling the amount of money in circulation. Monetarists argue that variations in the money supply have major influences on national output in the short run and the price level over longer periods, and that the objectives of monetary policy are best met by targeting the growth rate of the money supply.

Connections Between the Money Supply and Nominal GDP and Between