Meg Joyner has been given an assignment by her economics professor to write a paper discussing the usefulness of the quantity theory of money. Which statement in her paper is least accurate()
A. Monetarists believe that the growth rate of real output should only be increased at the rate of the money supply.
B. Velocity as used in the equation of exchange is the average number of times per year each dollar is used to buy goods and services.
C. An increase in the money supply will lead to an increase in product prices.
参考答案:A
解析:
Joyner is mistaken about the order of events. Monetarists believe that the money supply should be increased at the growth rate of real output to maintain price stability.