According to the quantity theory of money, if an economy produces 5,000 units of output, its money supply equals $40,000 . and the velocity of money equals one, then the price level will equal
a. $0.13
b. $1.25
c. $8
d. $200
e. $8,000
C
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Overfishing leading to a rapid depletion of the stock of fish is an example of ________
A) the tragedy of the commons B) the free-rider problem C) the paradox of thrift D) the prisoners' dilemma
In the figure above, the poorest 40 percent of households receive ________ of total income
A) 20 percent B) 10 percent C) 30 percent D) 15 percent
Securities markets perform a valuable economic function because they provide
A. an opportunity for investors to make money in a short time. B. the principal indicator of the performance of the U.S. economy. C. an easy way to transfer corporate securities, thereby reducing risk to investors. D. assurance that stock purchasers can get back the purchase price of their stock.
Skill-biased technical change is:
A. economic growth that derives from, and therefore benefits disproportionally, the highly-skilled, highly educated workers in a society. B. the change in technology that has caused many jobs to shift away from the service sector to the technology sector. C. the changing makeup of workforces in countries with large amounts of technology. D. None of these is true.