The Essence of the Quantity Theory of Money Is That

Multiple Choice

The essence of the quantity theory of money is that:

A) the price level is indeterminate.
B) in the long run, the only determinant of the price level is the money supply.
C) in the long run, a key determinant of the price level is the money supply.
D) only the central bank knows what the price level is.
E) money cannot pin down the price level.