In general, the more money in existence, the better it functions as a store of value

The velocity of circulation is defined as the

A) average number of times in a year that each dollar is used to buy goods and services. B) price level obtained when the money market is at its equilibrium. C) quantity of money demanded at equilibrium. D) speed with which changes in the interest rate spread throughout the economy. E) quantity of money supplied by the Fed.

An estimated demand curve does NOT necessarily match actual data perfectly because

A) it is not possible to accurately calculate the coefficients of the curve. B) some factors that are not measured or observed may affect the curve. C) the random error term has too large of a range. D) demand is unpredictable.