Markus Believes That in the Long Run, the Average Price

question 51

Multiple Choice

Markus believes that in the long run, the average price level will increase at a rate that is consistent with the rate of increase in the money supply. Economists would say that Markus believes in the:

• A) equation theory of money.
• B) proportional monetary price theory.
• C) money supply theory.
• D) quantity theory of money.

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