What Key Assumption Changed the Quantity Equation into the Quantity

question 67

Multiple Choice

What key assumption changed the quantity equation into the quantity theory of money?

• A)Wage rates were flexible.
• B)Only cash,currency,and demand deposits were considered money.
• C)The velocity of money was relatively stable.
• D)The money supply grew at a steady rate over the long run.

Understand the role of personal and standard deductions in determining taxable income.

Recognize the tax implications of dependency status and eligibility for exemptions.

Identify the forms and requirements for individual federal income tax returns.

Understand the implications of marital status on filing and exemptions.