By “inflation is like taxation without legislation” Morgan Friedman meant like inflation gets new money into economy and raises revenue, does not mean that it is a part of the legislation.
<u>Explanation:</u>
Inflation means rise in the prices of the goods and services of the economy at a continuous rate. With the increase in the prices, the revenue of the government also increases and new money also comes in to the economy, just like tax is a source of revenue for the government. But this does not mean that inflation is a part of the legislation or a part of the law, like the taxes are a part of the legislation.
The british controlled canada and other french colonies
There is an agreement of price and quantity in the market therefore all market forces stabilized and reached a price that consumers are willing to pay for goods and producers a price at which they are willing to produce in order to make a profit
The correct answer is Lyndon B. Johnson
