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To look for evidence concerning whether higher money growth leads to higher inflation, one should, according to the quantity equation, examine periods of time when
To look for evidence concerning whether higher money growth leads to higher inflation, one should, according to the quantity equation, examine periods of time when
changes in velocity and real GDP were small compared to changes in inflation and money growth.
changes in inflation and real GDP were small compared to changes in velocity and money growth.
changes in velocity and inflation were small compared to changes in real GDP and money growth.
changes in inflation and money growth were small compared to changes in velocity and real GDP.
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