A Change in the Money Supply Changes Only Nominal Variables

question 68

True/False

A change in the money supply changes only nominal variables in the long run.

---

Definitions:

First Continental Congress

The initial meeting of delegates from twelve of the thirteen colonies in 1774, convened to respond to the British Coercive Acts.

Declaration of Rights

A document outlining the fundamental rights and freedoms that are guaranteed to a person or recognized by a legal system, such as the United States Bill of Rights.

British Resistance

The opposition and defiance demonstrated by British forces, government, and civilians during conflicts, most notably during World War II.

Galloway's Plan

A proposal by Joseph Galloway in 1774 aimed at maintaining the American colonies' allegiance to Great Britain by offering them greater autonomy within the empire.