The inflation rate in Venezuela has increased between 2005 and 2010, rising from 14 percent per year to 31 percent per year. At the same time, the growth rate of real GDP fell from 10 percent per year to -2.6 percent per year
The quantity theory of money A) states that the inflation rate over the period would average 4 percent.
B) predicts that the velocity of money will decrease over the period.
C) states that the growth rate of money must have increased over the period.
D) predicts that nominal GDP will decrease over the period.
C
Economics
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Fill in the blank(s) with the appropriate word(s).
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A) sellers compete against buyers. B) sellers cooperate with buyers. C) buyers cooperate with other buyers. D) both A and C are true.
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