In the equation of exchange, the letter "V" stands for
A) variance.
B) validity.
C) volume.
D) velocity.
D
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A modern economy is one where: a. there is no medium of exchange
b. a single seller controls the production of all goods and services. c. every individual interacts with thousands of other individuals to receive the goods they need to survive. d. international trade does not take place.
(Appendix) If the cost of search is $3, and wages are uniformly distributed between $20 and $50, what is the smallest wage you should accept if you are risk neutral?
A. 28.73 B. $36.58 C. $33.42 D. $46.58
Refer to the information provided in Figure 32.2 below to answer the question(s) that follow.
Figure 32.2Refer to Figure 32.2. According to the new classical economists, under rational expectations an expected increase in government spending would
A. shift AD1 to the left. B. shift AD1 to the right. C. shift AS1 to the right. D. none of the above.
If the exchange rate is such that $1 equals 10 Mexican pesos, then the price of a peso is
A) $10. B) $1. C) $0.20. D) $0.10.