If M = 9,000 . P = 6, and Y = 1,500, what is velocity?
a. 0.167.
b. 1.
c. 4.
d. 36.
b
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The real wage is the wage:
A. measured in current dollars. B. employers are required to pay workers. C. required to maintain a minimum standard of living. D. measured in terms of purchasing power.
A sequential game can be used to analyze whether a retail firm should build a large store or a small store in a city, when the correct choice depends on whether a competing firm will build a new store in the same city. Which of the following is used to analyze this type of decision?
A) an either-or graph B) a decision tree C) a decision matrix D) a sequential matrix
In the short run, producers derive surplus from market exchange because
a. total revenue is greater than the minimum amount they would require to sell the good b. total revenue is equal to the minimum amount they would require to sell the good c. total revenue is less than the minimum amount they would require to sell the good d. marginal revenue equals average total cost e. they can rob consumers of most of their consumer surplus
An aggregate production function, when shown on a graph,
a. is linear and slopes upward b. is linear and slopes downward c. is horizontal d. is vertical e. slopes upward, and flattens out as more labor is used