Suppose nominal GDP equaled $10,988 billion while the M2 money supply was $6,063 billion. What was the velocity of the M2 money stock?
A. 0.45
B. 0.55
C. 1.81
D. 2.36
Answer: C
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You have noticed that there is a persistent shortage of teachers in an inner-city school district in your state. Based on this observation, you suspect that:
A. the wage for teachers in that district is lower than the equilibrium wage. B. the demand for teachers in the inner-city school district is too low. C. there is an excess supply of teachers in other districts. D. the wage for teachers in that district is higher than the wage in other districts.
The capture theory of regulation implies that
A) regulations promote the attainment of efficiency. B) regulations promote the attainment of economic profit. C) public officials favor voters over producers. D) the demand for regulation is less elastic than the supply.
Consumers value the product-specific services for a new smartphone at $30 and the marginal cost to the retailers for providing the product-specific services is $40. From the manufacturer's perspective, a resale price maintenance agreement ________ be successful as it will ________ the equilibrium quantity sold.
A) will not; decrease B) will; increase C) will not; increase D) will; decrease
Under free banking, banks are regulated by the Federal Reserve
Indicate whether the statement is true or false