1 . The early classical economists thought that the velocity of money was constant and that real...

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1 . The early classical economists thought that the velocity of money was constant and that real output was independent of monetary factors. Therefore, an increase in the stock of money meant proportional increase in prices.

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Economics Private And Public Choice

ISBN: 9780123110404

2nd Edition

Authors: James D Gwartney; Richard Stroup; A H Studenmund

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Question Posted: Oct 25, 2024 07:01 AM

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1 . The early classical economists thought that the velocity of money was constant and that real...

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Economics Private And Public Choice

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