The prices of houses, cars, and television sets have increased. Has there been inflation? Is continued inflation likely to be supply-side induced? Explain your answer. What type of inflation is Milton...

The prices of houses, cars, and television sets have increased. Has there been inflation? Is continued inflation likely to be supply-side induced? Explain your answer. What type of inflation is Milton Friedman referring to when he says that “inflation is always and everywhere a monetary phenomenon?”