If the money supply is $20 trillion and velocity is 2, then nominal GDP is
A) $2 trillion.
B) $10 trillion.
C) $20 trillion.
D) $40 trillion.
D
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A firm will hire additional units of any input up to the point where:
a. the marginal productivity of the input is maximized. b. the marginal cost of employing the input is minimized. c. the expense of employing the last unit is equal to the revenue brought in by the last unit. d. the revenue brought in by the input is maximized.
A firm operating in a perfectly competitive market may earn positive, negative, or zero economic profit in the short run
a. True b. False Indicate whether the statement is true or false
A consulting firm estimates the following quarterly sales forecasting model:Qt = a + bt +cDThe equation is estimated using quarterly data from 2005 I -2015 III (t = 1,..., 43). The variable D is a dummy variable for the second quarter where: D = 1 in the second quarter, and 0 otherwise. The results of the estimation are: 
Using the estimated trend line above, what is the predicted level of sales in 2016 I ?
A. 106.20 B. 102.2 C. 104.34 D. 110.06 E. none of the above
Suppose the reserve requirement is 5 percent. If reserves fall by 100, the money supply will decline by:
A. 100. B. 200. C. 1,000. D. 2,000.