According to monetarists:

Question

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Monetarists believe that the primary driver of inflation is the growth rate in the money supply. If the money supply is expanding too much, there will be more money chasing the same amount of goods and services, leading to higher prices and eventually inflation. Conversely, if the money supply is expanding too slowly, the economy may not have enough liquidity to support growth, leading to higher unemployment rates. However, monetarists do not believe that a slow expansion of the money supply will necessarily lead to price growth.

According to Monetarists