During the period in which the Navigation Acts guided colonial trade, international trade was safe and many countries fairly engaged in commercial trade.
Indicate whether the statement is true or false
Question 2
The best argument against monetarists' arguments that steady money growth would prevent fluctuations in inflation and unemployment is that:
a. the government has best control over fiscal policy and should focus on that.
b. large fluctuations in the money supply cannot occur because the supply of money is limited.
c. steady money growth does not necessarily mean steady aggregate demand if velocity is not stable.
d. steady growth in the money supply percents fluctuations in output only if aggregate prices are constant.
