The equation of exchange is a(n)
A) identity relating the volume of transactions at current prices to the stock of money times the turnover rate of each dollar.
B) "truism" and by itself does not explain the variables it contains.
C) identity relating the volume of transactions at base year prices to the stock of money times the turnover rate of each dollar.
D) Both a and b
E) Both b and c
Correct Answer:
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