A government that relies on seignorage to finance excess government expenditures is the foundation for the quote:
A) "Inflation is always zero in the long run."
B) "Inflation is always and everywhere a monetary phenomenon."
C) "Inflation is always and everywhere a fiscal phenomenon."
D) "Velocity growth should be equal to 2 percent in the long run."
E) "Velocity is always constant."
Correct Answer:
Verified
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