Based on what we observed in the course on the Canadian monetary system, identify whether the following statements are true or false. The velocity of money has been constant on average between 1970 and 2020. True False The comovement between the cyclical components of the money supply and nominal GDP is strongly positive over the 1970- 2020 period. False True The observed relationship between the cyclical components of the money supply and price level is complex: it is mostly positive and the comovements is sometimes happening with lags. True False