According to the quantity theory, in the long run, an increase in the growth rate of ________ leads to an increase in the ________
A) real GDP; inflation rate
B) the quantity of money; growth rate of real GDP
C) the quantity of money; inflation rate
D) real GDP; growth rate of velocity
C
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Use the following data to answer the next question.OutputATC-AATC-BATC-C10$6$13$442059353046274054205073146010411701458801976902510510032167The letters A, B, and C designate three successively larger plant sizes. In the long run, the firm should use plant size "A" for the production of
A. all possible levels of output. B. all levels of output greater than or equal to 40. C. 10 to 30 units of output. D. 30 to 60 units of output.
According to convergence theory, countries that start out poor should initially grow:
A. faster than ones that start out rich, but will eventually slow to the same growth rate. B. slower than ones that start out rich, but will eventually grow to the same growth rate. C. faster than ones that start out rich, and will eventually surpass their level of income. D. slower than ones that start out rich, and therefore will never reach a similar growth rate.
Free ridership is associated with what kind of externality, and why?
a. positive, because costs are identified but not internalized b. negative, because costs are identified but not internalized c. positive, because many who benefit are not always identified or accounted for d. negative, because many who benefit are not always identified or accounted for e. positive, because social value equals private value
Income received but not earned is
a. national income b. personal income c. personal disposable income d. indirect business taxes e. transfer payments