Classical economists reject the idea that
a. more than one motive is involved in the demand for money
b. a change in the money supply cannot affect real GDP
c. the transactions demand for money cannot influence the velocity of money
d. the velocity of money is variable
e. the economy always operates at full employment
D
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Of the 39 million Americans living in poverty, _______________ are children.
A. one-quarter B. 10 percent C. less than half D. more than half
Suppose that opportunity costs are constant and that Gorge can either bake a maximum of six pies or three cakes in a day. Brandi can produce a maximum of eight pies or two cakes in a day. Brandi has an comparative advantage in the production of
A. pies. B. cakes. C. both cakes and pies. D. neither cakes nor pies.
If the Consumer Price Index was 125 in one year and 120 in the following year, then the rate of inflation is approximately:
A. 4.0 percent B. 4.2 percent C. -4.0 percent D. -4.2 percent
According to the Economic Freedom Index,
A) countries with the lowest economic freedom enjoyed the highest per capita GDP. B) countries with the highest economic freedom enjoyed the lowest per capita GDP. C) countries with the highest economic freedom enjoyed the highest per capita GDP. D) there is no relationship between economic freedom and per capita GDP.