The velocity of money is assumed to be constant in the Classical model because
A) the payment habits of the community.
B) fixed level of real GDP.
C) the demand for money varies with the level of real output.
D) aggregate demand is constant.
A
Economics
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The assertion "capital is productive, but the ownership of capital is not," assumes the efficient use of resources
A) is different from technological efficiency and more difficult to achieve. B) is no more likely under one ownership arrangement than another. C) may be significantly affected by transferring ownership from private to public hands. D) sometimes is affected by transferring ownership from public to private hands.
Economics
Why is elasticity of demand greater for goods that are a large share of a consumer's budget?
What will be an ideal response?
Economics