-The classical principle of monetary neutrality states that changes in the money supply do not influence ________ variables and is thought most applicable in the ________ run.

a. nominal, short

b. nominal, long

c. real, short

d. real, long

-If nominal GDP is $400, real GDP is $200, and the money supply is $100, then

a. the price level is ½, and velocity is 2.

b. the price level is ½ , and velocity is 4.

c. the price level is 2, and velocity is 2.

d. the price level is 2, and velocity is 4.

-According to the quantity theory of money, which variable in the quantity equation is most stable over long periods of time?

a. money

b. velocity

c. price level

d. output