The More Sophisticated Version of the Quantity Theory of Money

question 9

Multiple Choice

The more sophisticated version of the quantity theory of money concludes

• A) nominal GDP is proportional to the money supply.
• B) real GDP is proportional to the money supply.
• C) the money supply should be kept constant to ensure steady growth in GDP with declining prices.
• D) investment expenditures are quantitatively more important than consumption expenditures.
• E) the circulation velocity of money is extremely volatile.

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