The higher the nominal interest rate:
A. the less money individuals will hold for any given level of transactions and the higher the velocity of money.
B. the less money individuals will hold for any given level of transactions and the lower the velocity of money.
C. the more money individuals will hold for any given level of transactions and the lower the velocity of money.
D. the more money individuals will hold for any given level of transactions and the higher the velocity of money.
Answer: A
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a. True b. False