Multiple Choice
Which of the following best describes the velocity of money?
A) The velocity of money is not constant over time.
B) The velocity of money is the same for every country so the Bank of Canada does not have to calculate its value.
C) If individuals are hoarding their money, the velocity of money will be high.
D) Control over the velocity of money implies that the Bank of Canada has precise control over real GDP.
Correct Answer:
Verified
Correct Answer:
Verified
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