Using the Equation of Exchange, If Velocity Is Stable in the Long

Multiple Choice

Using the equation of exchange, if velocity is stable in the long run, the inflation rate, (%∆P) Jcan be expressed as

A) %∆P = %∆M ÷ %∆Y
B) %∆P = %∆M + %∆Y
C) %∆P = %∆M *%∆Y
D) %∆P = %∆M - %∆Y