The quantity theory of money assumes that the velocity of money:
a. is constant.
b. will rise if the money supply rises and fall if the money supply falls.
c. will rise if the money supply rises, but it will not change if the money supply falls.
d. will fall if the money supply rises, and it will rise if the money supply falls.
e. will fall if the money supply rises, but it will not change if the money supply falls.
a
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For most industries, average costs decrease indefinitely as output expands.
Answer the following statement true (T) or false (F)
The case on textbook publishers shows that
A) if imports are allowed, price discrimination is difficult or impossible. B) if imports are allowed, price discrimination is possible. C) publishers have a difficult time identifying the groups involved. D) publishers should not migrate to electronic textbooks.
Markets that require workers with similar human capital:
A. vie for the same workers, who can interchange one type of employment for another. B. often have similar wages, because they employ similar workers. C. are more connected than others. D. All of these statements are true.
Marginal product eventually:
A. declines because some inputs are variable. B. declines because some inputs are fixed. C. increases because some inputs are fixed. D. increases because some inputs are variable.