The quantity theory of money says that _____.

Group of answer choices

Money supply + velocity =price level - Real Output

Money supply X velocity =price level X Real Output

Money supply X Real Output = velocity X price level

Money supply X price level = velocity X Real Output

Money supply + velocity =price level +Real Output

Which of the following statement is TRUE?

IThe main measure of inflation used in the U.S. is CPI.

IICPI measures the cost a basket of goods bought by a typical American consumer.

IIIWhen economists state that "money is neutral," they mean that the money supply does not affect real GDP or unemployment in the long run.

Group of answer choices

I and II only

II only

I, II, and III

I only

III only