The Classical Economists' Contention That Prices Double When the Money

question 83

Multiple Choice

The classical economists' contention that prices double when the money supply doubles is predicated on the belief that in the short run velocity is ________ and real GDP is ________.

• A)constant;constant
• B)constant;variable
• C)variable;variable
• D)variable;constant

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Definitions:

Platelets

Small, disc-shaped blood cells important in blood clotting and preventing hemorrhage.

Pulmonary Circuit

The path of blood flow from the heart to the lungs for oxygenation and back to the heart.

Pulmonary Veins

The veins that transfer oxygenated blood from the lungs to the left atrium of the heart.