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Refer to Frank Hayes' paper on the Quantity Theory of Money on Schoology. Fisher's Identity posits that: The velocity of circulation of money is constant.

Refer to Frank Hayes' paper on the Quantity Theory of Money on Schoology. Fisher's Identity posits that:
  • The velocity of circulation of money is constant.
    The velocity of circulation of money is constant.
  • The velocity of circulation of money is variable.
    The velocity of circulation of money is variable.
  • It is not possible to compute the monetary value of all transactions in an economic system.
    It is not possible to compute the monetary value of all transactions in an economic system.
  • The Quantity Theory of Money is only true as an 'ex-ante' condition.

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