Irving Fisher's view that velocity is fairly constant in the short run transforms the equation of exchange into the
A) Friedman's theory of income determination.
B) quantity theory of money.
C) Keynesian theory of income determination.
D) monetary theory of income determination.
B
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A subsidy to buyers has been placed on the market in the graph shown. What is the amount of the subsidy per unit of this good?
A. $22 B. $6 C. $16 D. $10
As exemptions are raised and allowable deductions are increased, there is
A. Greater horizontal equity. B. Greater vertical inequity. C. A smaller gap between effective and nominal tax rates. D. A smaller gap between gross income and taxable income.
Goods produced that go into inventories are
A. not counted in GDP. B. only counted in GDP when they are ultimately sold. C. counted in GDP even though they are not sold. D. counted if they completely depreciate within the calendar year.
Before the ________ the American export-import sector was relatively small.
A. 1900s B. 1940s C. 1970s D. 1990s