In the late 1970s and early 1980s, the velocity of money increased significantly. The main reason(s) for the increase was:
A. the introduction of stock and bond mutual funds with draft writing privileges and low nominal interest rates.
B. high nominal interest rates.
C. the introduction of stock and bond mutual funds with draft writing privileges along with high nominal interest rates.
D. as presidential election years near the velocity of money increases.
Answer: C
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