Combating inflation has been one of the most intractable economic problems faced by the developed and the underdeveloped countries. Comment. What are the traditional monetary measures to control...

Combating inflation has been one of the most intractable economic problems faced by the developed and the underdeveloped countries. Comment. What are the traditional monetary measures to control inflation? Explain how these measures work to control inflation. Explain the working of the monetary weapons of inflation control. Which of these weapons is more effective under what conditions?