The Classical Economists Believed That If the Quantity of Money

question 66

Multiple Choice

The classical economists believed that if the quantity of money doubled

• A)output would double.
• B)prices would fall.
• C)prices would double.
• D)prices would remain constant.

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Definitions:

Crystallized Intelligence

The ability to use acquired knowledge and experience in problem-solving and adapting to new situations.

Practical Intelligence

A type of intelligence that involves the ability to solve everyday problems through adaptive or creative reasoning in real-world contexts.

Seattle Longitudinal Study

A research project that investigates cognitive abilities across the lifespan, starting from 1956.

Primary Mental Abilities

Fundamental cognitive skills including numerical and verbal abilities, spatial relations, and memory that are thought to be essential for intelligence.