The number of times per year, on average, that a dollar is spent on final goods and services is known as
A. the equation of exchange.
B. the price of money.
C. the income velocity of money.
D. the money supply.
Answer: C
You might also like to view...
The overall mortality rate in the United States has declined for the past 30 years
Indicate whether the statement is true or false
According to the text, government spending accounts for about ________ percent of all U.S. health care expenditures
A) 70 B) 10 C) 30 D) 40
A large majority of economists favor eliminating the minimum wage
a. True b. False Indicate whether the statement is true or false
If a scalper for the Super Bowl is able to charge $5,000 for a front-row seat, this suggests that
A) at the regular price, there is a surplus of Super Bowl tickets. B) at the regular price, there is a shortage of Super Bowl tickets. C) at the regular price, the quantity of Super Bowl tickets demanded equals the quantity supplied. D) the scalper is making the football fan worse off.