Classical Economists,who Adhered to the Quantity Theory of Money,believed That

question 107

Multiple Choice

Classical economists,who adhered to the quantity theory of money,believed that an increase in the money supply would cause

• A)a proportional change in velocity.
• B)a proportional change in real GDP.
• C)a proportional change in prices.
• D)no effect on velocity,prices,or real GDP.

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Definitions:

Economic Performance

Economic performance refers to the evaluation of how well an economy or business is operating, typically measured by growth, productivity, and employment rates.

Cultures

The shared values, traditions, norms, customs, arts, history, folklore, and institutions of a group of people.

Socialization Process

The process by which individuals learn the values, norms, and required behaviors which permit them to participate as members of a society or organization.

Organizational Culture

Organizational culture comprises the values, beliefs, behaviors, and artifacts that contribute to the unique social and psychological environment of an organization.