According to the classical view, to prevent price level changes when real output is growing by 3 percent per year,
a. the money supply must decrease by 3 percent per year
b. the money supply must increase by 3 percent per year
c. the money supply must increase by more than 3 percent per year
d. the money supply must remain constant
e. velocity must decrease by 3 percent per year
B
Economics
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Janelle spends all of her income on songs from iTunes ($1 each) and applications ($5 each) for her iTouch. If she makes her best affordable choice, she purchases 20 songs and 4 applications, what is her real income in terms of applications?
A) 40 applications B) 4 applications C) 10 applications D) 20 songs
Economics
A shortage occurs when the market price is lower than the equilibrium price
Indicate whether the statement is true or false
Economics