Why is it challenging to assess if the velocity of money remains steady over time?

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Because tracking nominal GDP values consistently over time is complicated.Since the money supply has shown minimal variation throughout the years.Due to difficulties in accurately gauging the demand for money over different periods.Because the constancy of velocity can vary depending on the method used to measure the money supply.

Explanation

Determining whether the velocity of money is constant is complicated because the result can vary based on the approach taken to measure the money supply. Different measurement methods can lead to different conclusions about velocity's stability.