Explain How the Following Statements Relate to the Velocity of Money

Essay

Explain how the following statements relate to the velocity of money. Assume a constant money supply.
(a) Businesses around the country decide to pay workers only once a month in order to reduce paperwork and improve efficiency.
(b) Banks around the country begin using a new check clearing system that allows checks to clear much faster than they did previously.
(c) Credit card companies and banks announce a huge promotion to increase the use of credit cards for most, if not all, purchases. This includes food, utility bills, and most other necessities.