Liberals Argue Against the Conservative "Monetarist" Program to Control Inflation

Multiple Choice

Liberals argue against the Conservative "monetarist" program to control inflation because

A) the relationship between output, employment, and money supply growth is not stable and predictable.
B) a fixed money supply growth rule prevents government and monetary authorities from accommodating the vagaries of each business cycle.
C) structural factors such as technological change, global competition, and income inequality have restrained and/or depressed labor costs.
D) All of the above.