The equation of exchange states that:
A) government spending equals taxes plus the federal budget deficit
B) the reciprocal of the reserve requirement equals the deposit expansion multiplier
C) the money supply times the velocity of money equals the price level times the quantity of goods and services produced
D) the price level times the velocity of money equals the money supply times the quantity of goods and services produced
E) the price level times the money supply equals the velocity of money times the quantity of goods and services produced
Correct Answer:
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