According to the equation of exchange, if the money supply is $800 million, real GDP is $3,000 million, and nominal GDP is $4,000 million, then the velocity of money is equal to:
a. 3.5.
b. 1.7.
c. 10.3.
d. 5.
e. 2.
d
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Suppose two nations are seeking to expand their commercial relations. What options do they have in terms of addressing conflicts in standards? Describe each and what conditions might favor different approaches to setting standards
What will be an ideal response?
For the Bureau of Labor Statistics to place someone in the "unemployed" category, that person must
a. be available for work. b. have tried to find employment during the previous week. c. have previously been employed. d. All of the above are correct.
The government buts new weapons systems. The manufacturers of weapons pay their employees. The employees spend this money on goods and services. The firms from which the employees buy the goods and services pay their employees. This sequence of events illustrates
a) the accelerator effect. b) the multiplier effect. c) the chain effect. d) the bandwagon effect.
Trade allows the people of a country to consume outside their production possibility curve.
Answer the following statement true (T) or false (F)