Who among the following treat the velocity of money as constant or stable and predictable (in contrast…

In the Quantity Theory of Money tradition, Classical economists (such as Irving Fisher) assumed the velocity of circulation of money to be constant in the short run due to institutional factors, and Monetarists (led by Milton Friedman) treated velocity as a stable, predictable function of a small number of variables. By contrast, Keynesians argued that the velocity of money is volatile and unstable due to fluctuations in speculative money demand and interest rates. Therefore, ('Both classical economists and monetarists') is correct.