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1. Explain the Equation of Exchange and each variable in the Equation. 2. Use the Equation of Exchange to explain when inflation and deflation are

1. Explain the Equation of Exchange and each variable in the Equation.

2. Use the Equation of Exchange to explain when inflation and deflation are expected to occur.

3. Currently, the U.S. Central Bank in dramatically increasing the Money Supply in response to the economic conditions caused by the Corornavirus. What does the Quantity Theory of Money predict will be the long-term impact of the policy on prices?

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