Velocity is commonly calculated by which of the following formulas?
A. (Value of money stock) / (Value of nominal GDP)
B. (Value of transactions) / (Money stock)
C. (Value of financial transactions) / (GDP)
D. (Value of output) / (Value of input)
Answer: B
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Exclusive rights of ownership that allow the use, transfer, and exchange of property are called
A) common property rights. B) nonexclusive property rights. C) private property rights. D) public property rights.
According to quantitative estimates of the burden of the Navigation Acts on the colonies, what can be said about the (net) effect of the Acts?
a. The Navigation Acts placed a serious economic burden on the colonies, with estimates of this burden equaling roughly 40 percent of 1770s GNP. b. The Navigation Acts were the critical reason why colonists revolted against the British. c. After accounting for the protection provided by the British, there was very little economic burden to colonists from the Navigation Acts. d. Existing data do not allow for credible estimates of the economic burden of the Navigation Acts on the colonies.
States' rights advocates were reluctant to interfere with a bank's freedom to give or not give credit
Indicate whether the statement is true or false
According to the World Bank definitions, there are more people in the world living in extreme poverty than there are living in severe poverty.
Answer the following statement true (T) or false (F)