Multiple Choice
The quantity theory of money concludes that if real output is constant:
A) changes in the price level are caused by changes in the money supply.
B) real GDP and the money supply are related in the long run.
C) changes in velocity are proportional to changes in nominal income.
D) changes in velocity are proportional to changes in the money supply.
Correct Answer:
Verified
Correct Answer:
Verified
Q72: The long-run Phillips curve shifts to the
Q73: According to institutionally-focused economists:<br>A)the direction of causation
Q74: Refer to the graph shown. The shift
Q75: If global prices are lower than domestic
Q76: It's difficult to measure asset inflation because
Q78: Draw a short run and long-run Phillips
Q79: Inflation is undesirable because it:<br>A)always makes the
Q80: The short-run Phillips curve tells us, in
Q81: Suppose the money supply increases by 10
Q82: Unexpected inflation redistributes income from lenders to