Moreover, it's crucial to examine the argument that the correlation between interest rates, income, and price level may not be as robust as commonly assumed. While interest rates can have an impact on the economy, other factors such as technological advancements, changes in consumer behavior, and shifts in global markets can also play a significant role in determining the overall income and price level. Therefore, it's important to consider a broad range of factors when analyzing the economy, rather than relying solely on interest rates as a predictor of economic activity