Question
Assuming the velocity of money and real GDP are fixed, the quantity theory of money predicts that a 2% increase in the money supply causes
Assuming the velocity of money and real GDP are fixed, the quantity theory of money predicts that a 2% increase in the money supply causes a 2%:
A) increase in inflation.
B) decrease in inflation.
C) increase in the average price level.
D) decrease in the average price level.
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Slavery And American Economic Development
Authors: Gavin Wright
1st Edition
0807152285, 9780807152287
