According to the equation of exchange, if the amount of money in an economy multiplied by the velocity of money equals 800 million dollars, then this economy's:
a. real GDP equals $800 million
b. nominal GDP equals $800 million.
c. real GDP equals $800 million times the price level.
d. nominal GDP equals $800 million times the price level.
e. price level equals $800.
b
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A. decrease; decrease B. increase; decrease C. increase; increase D. decrease; increase
Jordan recently quit her job as a marketing consultant in Washington, D.C. and is looking for a better-paying job with an advertising agency in New York. Jordan is considered to be
A) cyclically unemployed. B) structurally unemployed. C) not in the labor force. D) frictionally unemployed. E) a discouraged worker.
In a world with money and bonds only
A) it is not risky to hold money. B) it is risky to hold money. C) risk is an important factor in the demand for money. D) there is no relationship between risk and holding money. E) assets become meaningless.
The tasks performed by the chef at your favorite restaurant could be categorized as
A. an economic good. B. a good. C. a service or intangible good. D. All of these are correct.