1. Short-term monetary control: what should governments attempt to control? Monetary policy may be off target.

2. If the demand curve shifts very much, and if it is inelastic, then monetary control will be very difficult.

3. 17 If the demand curve shifts very much, and if it is inelastic, then monetary control will be very difficult.

4. Problem of an unstable demand Accurate monetary control requires the authorities to be able to predict the demand curve for money.