Multiple Choice
The quantity theory of money asserts that:
A) changes in nominal GDP are inversely related to changes in the velocity of money.
B) changes in money supply are positively related to changes in the velocity of money.
C) changes in the money supply are unrelated to changes in the price level.
D) changes in the output level are unrelated to changes in the price level.
E) changes in the money supply are directly related to changes in nominal GDP.
Correct Answer:
Verified
Correct Answer:
Verified
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