Question 24 (4 points) From 1970 to 2007 the quantity of M1 fell from 20 percent of GDP to less than 10 percent, This change is because the ownership of credit cards during this time period since fell from 80 percent to 18 percent; credit cards became less widely available and utilized O fell from 80 percent to 18 percent; there were several recessions during that period expanded from 18 percent to 80 percent; credit cards became more widely available and utilized expanded from 18 percent to 80 percent; there were several recessions during that period C)remained unchanged; credit cards do not affect the quantity of moneyTerin Muncaster, Attempt 1 Question 19 (4 points) The quantity theory of money does a job in explaining inflation in the United States in because of velocity of circulation. poor; 1960-1970s; constant good: 1960-1970s; increasing poor; 2000-2010s; constant good; 2000-2010s; decreasing poor; 2000-2010s; decreasing Question 20 (4 points) Saved Fiscal policies that move the economy toward potential GDP without a change in Terin Muncaster: Attempt 1 Question 21 (4 points) The velocity of circulation is equal to the quantity of money divided by nominal GDP. nominal GDP divided by the quantity of money. the quantity of money divided by the price level and then multiplied by real GDP. the price level divided by real GDP. the price level multiplied by the quantity of money. Question 22 (4 points) Saved If the uit an open market operation and sells U.S. government securities, Question 23 (4 points) If the price level rises, there is a rightward shift of the demand for money curve. a downward movement along the demand for money curve and the curve does not shift. an upward movement along the demand for money curve and the curve does not shift. Oa leftward shift of the demand for money curve. no movement along the demand curve for money and the curve does not shift