Friedman and Schwartz's work A Monetary History of the United States, 1867-1960 showed that the business cycle historically was associated with fluctuations in:
A) prices.
B) interest rates.
C) the money supply.
D) business investment.

Question

Quizplus · Accepted Answer

Friedman and Schwartz's book showed that fluctuations in the money supply were historically associated with the business cycle. This is known as the monetarist explanation of the business cycle.

Friedman and Schwartz's Work a Monetary History of the United