Which of the following restates the basic business cycle fact that money is procyclical?
A) Changes in the behaviour of the money stock has been closely associated with changes in economic activity,nominal income,and prices.
B) Monetary changes have often had an independent origin;they have not been a reflection of changes in economic activity.
C) The interrelation between monetary and economic changes have been highly stable.
D) Both A and C are correct.
Correct Answer:
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