Explain how the following statements relate to the velocity of money. Assume a constant money supply.
(a) Businesses around the country decide to pay workers only once a month in order to reduce paperwork and improve efficiency.
(b) Banks around the country begin using a new check clearing system that allows checks to clear much faster than they did previously.
(c) Credit card companies and banks announce a huge promotion to increase the use of credit cards for most, if not all, purchases. This includes food, utility bills, and most other necessities.

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The Answer of Explain how the following statements relate to the velocity of money. Assume a constant money supply.
(a) Businesses around the country decide to pay workers only once a month in order to reduce paperwork and improve efficiency.
(b) Banks around the country begin using a new check clearing system that allows checks to clear much faster than they did previously.
(c) Credit card companies and banks announce a huge promotion to increase the use of credit cards for most, if not all, purchases. This includes food, utility bills, and most other necessities.

Explain How the Following Statements Relate to the Velocity of Money