... a resultofsomechange in thenominalquantityorvelocityofmoney,leadingto a change in theoveralldemand for finalgoodsandseIVices,thatis, in aggregatespendingor'nominalincome'. A centralbankmight, in principleatleast,managethestockofmoneyso ... astopreventsuchchanges in nominalincome,therebykeepingthe price level constant.Byassumption,consumerpreferencesandtechnologyarenotchanging,sothattheonlyinformationconveyed byany price level movementisinformationconcerningthecentralbank'sfailuretomaintain a stablevalueofnominalspending.Ananalogy ... policyisviewedhereasbeingcapableofreducingoreliminatingmonetaryor'unnat.ural'disturbancest.orealactivity only. Policycannot. altoget.her 'st.abilise'realactivity in sofaras 'nat.ural' rat.esofout.put.andemploymentarethemselvessubjectt.orandomchange,as...