What is the economic criterion most often used to compare living standards across countries?

Suppose that the United Kingdom pegs the pound to the euro. If all other things remain unchanged, what would you expect to happen to European GDP if all countries who use the euro decided to adopt contractionary fiscal policies?

A) It would rise. B) It would fall. C) It would not change. D) That cannot be determined using the information provided.

Both the monetarist view of the economy and the simple quantity theory of money hold that velocity is constant

Indicate whether the statement is true or false