Depreciation is
A. added to GDP to get gross investment.
B. subtracted from net investment to obtain gross investment.
C. the difference between exports and imports.
D. added to NNP to get GNP.
Answer: D
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According to the equation of exchange, if nominal GDP equals $6 trillion and the money supply equals $1 trillion, the velocity of money: a. must be 6
b. must be 1/6. c. must be 6 trillion. d. must be 1/6 trillion. e. cannot be determined unless we know the price level.
A price increase will always cause a firm's revenue to fall, because they will sell less of the good
a. True b. False Indicate whether the statement is true or false
When does a woman experience lactation?
A. During fertilization B. After ovulation C. During labor and delivery D. After childbirth
When computing a price index, the base year is
A. the most recent year in which the inflation rate was close to zero. B. the earliest year for which data are available. C. the year that is chosen as the point of reference for comparison of prices with other years. D. the most recent year for which data are available.