To say that money is a veil means that
A)while nominal variables are the first thing we may observe about an economy, what's important are the real variables and the forces that determine them.
B)money is the principal medium of exchange in most economies.
C)the primary determinant of short-run economic fluctuations is not real variables, but rather changes in the money supply.
D)in the long run money is of no importance to the determination of either real or nominal variables.

Question

Quizplus · Accepted Answer

The concept of money as a veil refers to the idea that nominal variables, such as prices and wages, may obscure the underlying real variables, such as productivity and technological advances, that determine an economy's long-term growth. Therefore, while money may be a necessary medium of exchange, it is ultimately the real variables that determine an economy's prosperity.

To Say That Money Is a Veil Means That