According to the Monetary Approach to the Balance of Payments

Multiple Choice

According to the monetary approach to the balance of payments a non-reserve currency nation:

A) has no control over its money supply in the long-run under fixed exchange rates
B) has no control over its money supply in the short-run under fixed exchange rates
C) has no control over its money supply in the long-run under flexible exchange rates
D) retains complete control over its money supply in the long-run