问题
单项选择题
If the money supply increases and the price level declines, according to the quantity theory of money, velocity:（）
A. declined and output rise, or velocity rise and output remained constant.
B. remained constant and the growth rate in output fell more than enough to compensate for the decline in prices.
C. declined and output rise; or velocity remained constant and the growth rate in output rose more than enough to compensate for the decline in prices.
答案
参考答案：C
解析：
MV=PY. M goes up and P goes down. So, V must go down, Y must go up; or if V is constant, Y increases more than P decreases.