What do nearly all economists believe to be true about the origins of inflation over the long run? What does this imply about the Federal Reserve's involvement?

Question

Quizplus · Accepted Answer

The Answer is Almost all economists agree that sustained inflation-inflation that continues over many periods-is a purely monetary phenomenon. In the context of the AS/AD framework, inflation cannot continue indefinitely unless the Fed "accommodates" it by increasing the money supply.

What Do Nearly All Economists Believe to Be True About