<unk> <unk> <unk> <unk> <unk>  Passage: Friedman was best known for reviving interest in the money supply as a determinant of the nominal value of output, that is, the quantity theory of money.<unk> Passage: Friedman was best known for reviving interest in the money supply as a determinant of the nominal value of output, that is, the quantity theory of money. Monetarism is the set of views associated with modern quantity theory. <unk> Monetarism is the set of views associated with modern quantity theory. ️<unk>️<unk>️<unk>️<unk>️<unk>️<unk>️<unk>️<unk>️<unk>️<unk>️<unk>️<unk>️<unk>️<unk>️<unk>️<unk>️<unk>️<unk>️<unk>️<unk>️<unk>️<unk>️<unk>️<unk>️<unk>️<unk>️<unk>️<unk>️<unk>️<unk>️<unk>️<unk>️<unk>️<unk>️<unk>️<unk>️<unk>️<unk>️<unk>️<unk>️<unk>️<unk>️<unk>️<unk>️<unk>️<unk>️ 1960 (1963), in which was an examination of the role of the money supply and economic activity in the U.S. history. A striking conclusion of their research regarded the way in which money supply fluctuations contribute to economic fluctuations. ️<unk>️<unk>️<unk>️<unk>️<unk>️<unk>️<unk>️<unk>️<unk>️<unk>️<unk>️<unk>️<unk>️<unk>️<unk>️<unk> These challenged a prevailing, but largely untested, view on their relative importance.<unk> These challenged a prevailing, but largely untested, view on their relative importance. ️<unk>️<unk>️<unk>️<unk>️<unk>️<unk>️<unk>️<unk>️<unk>️<unk>️<unk>️<unk>️<unk>️<unk>️<unk>️<unk>️<unk>️<unk>️<unk>️<unk>️<unk>️<unk>️<unk>️<unk>️  Question: What is the theoretical basis of Monetarism?
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