Which of the following is true about the equation of exchange?
a. The equation of exchange can be presented as: M V = P Q
b. Velocity represents the average number of times that a dollar is used in purchasing final goods or services in a one-year period.
c. If M increases, and V remains constant, then P must rise and/or Q must rise.
d. All of the above are true about the equation of exchange.
d
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