Which of the following best represents the equation of exchange?
A) M * P = V * Y
B) M * V = P * Y
C) M * Y = P * V
D) M * Y * V = P
B
You might also like to view...
Rick lost his job as a logistics and distribution coordinator nearly three years ago. After a long and failed search, Rick finally gives up and stops looking for a new job
Rick's decision to suspend his job search causes the unemployment rate to ________ and the labor force participation rate to ________. A) increase; decrease B) decrease; decrease C) stay the same; decrease D) increase; stay the same E) increase; increase
If a firm's marginal revenue is below its marginal cost, an increase in production will usually
a. increase profits. b. leave profits unchanged. c. decrease profits. d. increase marginal revenue.
Hooterville has seen its population grow by 200% over the past decade (10 years). Urban sprawl has occurred as city services have been extended to formerly rural areas. Mark's Manhole Cover Company, Inc has seen sales to the City of Hooterville triple during this period. This is most likely due to
a. increased manhole cover prices b. increased quantity supplied of manhole covers c. altered consumer expectations d. increased demand for manhole covers e. increased supply for manhole covers
Which of the following is true of perfect competition but not true of monopoly?
a. The firm's average total cost curve is U-shaped. b. Marginal revenue is equal to price. c. A profit-maximizing firm chooses output where marginal revenue equals marginal cost. d. Profits may exist in the short run.