The quantity theory of money asserts that changes in
A) nominal GDP are inversely related to changes in the velocity of money.
B) the quantity of money are positively related to changes in the velocity of money.
C) the quantity of money are unrelated to changes in the price level.
D) the output level are unrelated to changes in the price level.
E) the quantity of money are directly related to changes in nominal GDP.
Correct Answer:
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