If the money supply increases 10-percent, velocity decreases 5-percent, and the price level increases 6-percent, then the change in real GDP is
a. 1.
b. 4.
c. -1.
d. 5.
C
Economics
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What is economic freedom and why is it important for economic growth?
What will be an ideal response?
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Unemployment caused by an imbalance between the skills possessed by workers and the skills demanded in labor markets is known as
a. structural unemployment. b. imbalance unemployment. c. frictional unemployment. d. cyclical unemployment.
Economics
The best description of the economy in the long run comes from which macroeconomic theory?
a) classical b) aggregate demand c) Keynesian d) aggregate supply
Economics
If the supply of money increases, the long-run aggregate supply curve suggests that output will not change but the price level will.
Answer the following statement true (T) or false (F)
Economics