1.1. What do monetarists predict will happen in the short run and in the long run as...
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1.1. What do monetarists predict will happen in the short run and in the long run as a result of each of the following (in each case, assume the economy is currently in long-run equilibrium)?
a. Velocity rises.
b. Velocity falls.
c. The money supply rises.
d. The money supply falls.
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