TRUE OR FALSE?
1. While it seems odd, Rothbard contends that we buy money with goods and services.
2. Even if we get paid more frequently, as long as our income is unchanged we will still
demand the same amount of money.
3. Improvements in the clearing system for checks will decrease the demand for money.
4. It is generally easy to predict when expectations change from deflation to inflation as we
move from Mises’ Phase I to Phase II.