When the efficient quantity of output is being produced and sold, the deadweight loss is maximized

According to the equation of exchange, if velocity and real GDP do not change, a 3 percent increase in the quantity of money

A) raises the price level by 3 percent. B) raises the price level by 3 ÷ (velocity). C) raises the price level by less than 3 percent. D) lowers the price level by 3 ÷ (real GDP). E) lowers the price level by 3 percent.

The fact that money must withstand the wear and tear that comes from being used over and over again is a measure of its _____.

(A) Age (B) Currency (C) Durability (D) Portability