If velocity and output are fixed at 5 and 400, respectively, and the price level is 2, then the money supply is
A) 4,000.
B) 200.
C) 160.
D) 40.
C
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According to Okun's Law, when the natural employment rate is 6 percent and potential GDP is $10 trillion, then when actual employment is 5 percent, real GDP is
A) $10.1 trillion. B) $9.9 trillion. C) $9.8 trillion. D) $10.2 trillion. E) $8 trillion.
What are some of the long-run costs of tariffs?
What will be an ideal response?
Which of the following is typically not counted in GDP?
A) any nonmarket good and services B) income generated from apartment rentals C) illegal drug sales D) all of the above E) none of the above
The election campaign of George Bush to succeed Ronald Reagan as president was
A. hindered due to high levels of unemployment in 1988. B. hindered by the increasing inflationary problems of the late 1980s. C. helped by the budget surpluses generated in the last years of the Reagan administration. D. helped by the continuing low levels of unemployment and inflation in 1988.