The view that velocity is constant in the short run transforms the equation of exchange into the quantity theory of money. According to the quantity theory of money, when the money supply doubles

The gains from trade include:

i. lower prices from competition ii. greater output from specialization iii. greater variety of goods and services available A) ii only B) i and iii only C) i and ii only D) i, ii, and iii E) ii and iii only

Which of the following is an invalid argument for protection?

A) redistribution of income B) infant industry protection C) preservation of the home market D) All of the above