According to the equation of exchange, the money supply times the velocity of money equals the

In the money market, an excess supply of money is equivalent to an excess supply of bonds

Indicate whether the statement is true or false

Smith sends her children to a private school on the other side of town. Tuition per student per year is $15,000. Jones sends her children to a public school on her side of town. Tuition per student per year is $0. Most people seem to think that the private school and public school are equivalent when it comes to educating students. According to a theory discussed in the textbook,

A) Smith lives in a more expensive home than Jones. B) Jones lives in a more expensive home than Smith. C) Smith and Jones live in homes that are priced the same. D) Smith lives in a larger home than Jones. E) none of the above