Using the Equation of Exchange,the Existence of a Natural Rate

question 120

Multiple Choice

Using the equation of exchange,the existence of a natural rate of unemployment implies that in the long run:

• A)Velocity in the equation of exchange is actually very unstable.
• B)Monetary policy affects only the rate of inflation.
• C)Quantity of real output in the equation of exchange varies in proportion to money supply.
• D)The rate of unemployment can be permanently reduced by more expansionary monetary and fiscal policies.

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