As We Approached the End of the Millennium, Many Economic

Multiple Choice

As we approached the end of the millennium, many economic crackpots advised citizens to hold large quantities of cash in anticipation of Y₂K disasters.What effect would this have had on velocity if many people had been foolish enough to follow this advice?

A) Velocity would have decreased.
B) Velocity would have increased.
C) Velocity would have remained constant.
D) Velocity is unrelated to cash balances.