Nominal GDP is $9.6 million dollars, real GDP is $9 million, and velocity is 1.2. The quantity of money is ________ million
A) $10.8 B) $12 C) $7.5 D) $8 E) $11.52
D
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The Hirschman-Herfindahl index (HHI) in an industry is 50. A merger is proposed that will raise the HHI to 100. In this case, the
A) Sherman Act will prohibit the merger. B) Federal Trade Commission will challenge the merger. C) Federal Trade Commission will not challenge the merger. D) rule of reason will prevent the merger if it represents a horizontal merger.
Suppose your payroll check is directly deposited to your checking account. Everything else held constant, total reserves in the banking system ________ and the monetary base ________
A) remain unchanged; remains unchanged B) remain unchanged; increases C) decrease; increases D) decrease; decreases
The currency created by the European Monetary Union, for which notes and coins became available in 2002, is the
A) ECU. B) euro. C) EMU. D) pound.
A jeweler cut prices in his store by 20%. As a result: a. Its total revenue would fall by 20% if the elasticity of demand was zero
b. Its total revenue would fall, but by less than 20% if the elasticity of demand is greater than zero but less than one. c. Its total revenue would rise if the elasticity of demand is greater than one. d. All of the above would be true.