If the Velocity of Money and Real GDP Are Fixed

Multiple Choice

If the velocity of money and real GDP are fixed, then the quantity theory of money implies that the price level will:

A) increase at a lower rate than the growth in the money supply.
B) increase at the same rate as the growth in the money supply.
C) increase at a higher rate than the growth in the money supply.
D) be unrelated to the growth in the money supply.