I used to think that economic growth more production was, Ask an Expert

Economics

I used to think that economic growth ( more production) was only possible / able to occur because banks lent out more than they had (fractional reserve credit banking). Apparently , however, if velocity of money increases we can also have growth. Does this mean that if money supply never increased (credit via banks) that growth can still occur?

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Macroeconomics, Economics

Category:- Macroeconomics
Reference No.:- M9575887

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