1. Why have governments frequently had difficulty in controlling the size of the PSNCR? 2 Consider the various ways in which the figures for the PSNCR may be interpreted. Why are so many...

2
Consider the various ways in which the figures for the PSNCR may be interpreted.

Why are so many interpretations possible?
3
Explain the theoretical relationship between the PSNCR, the rate of growth of the money stock and interest rates. Why is this relationship unlikely to hold in practice?