The Income Velocity of Money

question 29

Multiple Choice

The income velocity of money:

• A)is defined in the identity MV = PY.
• B)is defined in the identity MV = PT.
• C)is the same thing as the transactions velocity of money.
• D)will be smaller than the transactions velocity of money if the quantity of transactions is greater than income.

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Definitions:

Donald Super

A developmental psychologist known for his theories on the stages of occupational development and the concept of career maturity.

Glamour

An alluring beauty or charm, often with a magical or enchanting quality.

Maintenance Stage

In the context of behavior change, the phase where new behaviors are sustained over time following initial adoption.

Career Development

An ongoing procedure of overseeing one's education, career, free time, and life changes to steer oneself towards an evolving desired future that is personally chosen.