Classical economist David Hume observed that as the money supply expanded after gold discoveries a. it took time for prices to rise; in the meantime output was higher. b. it took time for prices to rise; in the meantime output was lower. c. prices and output both increased immediately. d. prices increased immediately while output remained unchanged.
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Home » Business » Classical economist David Hume observed that as the money supply expanded after gold discoveries a. it took time for prices to rise; in the meantime output was higher. b. it took time for prices to rise; in the meantime output was lower. c.