In Friedman's Modern Quantity Theory,velocity Is Procyclical Because

Multiple Choice

In Friedman's modern quantity theory,velocity is procyclical because

A) money demand depends on permanent income,which is more stable than actual income.
B) money demand depends on actual income,which is more stable than permanent income.
C) velocity depends upon interest rates,which are stable over the business cycle.
D) velocity depends upon interest rates,which move procyclically.