According to the quantity theory of money, the price level is: Selected Answer: a. indeterminate in the long run. Answers: a. indeterminate in the long run. b. determined by the money supply only. c. exogenous. d. determined by the ratio of the effective quantity of money to the volume of goods. e. determined by the volume of goods produced.

According to the quantity theory of money, the price level is: Selected Answer: a. indeterminate in the long run. Answers: a. indeterminate in the long run. b. determined by the money supply only. c. exogenous. d. determined by the ratio of the effective quantity of money to the volume of goods. e. determined by the volume of goods produced.

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter27: Issues In Macroeconomic Theory And Policy

Section: Chapter Questions

Problem 7P

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