If velocity is a constant, then the equation of exchange is an economic model
a. True
b. False
Indicate whether the statement is true or false
True
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Gordon notes that the average growth rate of labor productivity between 1996 and 2004 was ________ percent, and the average reached ________ percent in 2003-04
A) 3; 3.5 B) 2; 205 C) 1.7; 3.2 D) 2; 1.5
The lowest possible unemployment rate that will not cause the inflation rate to increase is called:
A. the nonaccelerating inflation rate of unemployment (NAIRU). B. the natural rate of unemployment. C. "full employment." D. All of these statements are true.
Scarcity forces us to choose, and choices are costly because we must give up other opportunities that we value
a. True b. False Indicate whether the statement is true or false
Which of the following transactions would be included in GDP for 2015?
A. On January 5, 2015, Chris Carter sold 100 shares of stock in IBM Corporation. B. Bonita Delgado purchases a new 2015 Chevrolet on March 10, 2015. C. Nadav Daniel buys a used desk from the “Struggling Students Used Furniture” store on May 9, 2015. D. Levi Lathan purchases a 75-year-old penthouse on Lake Shore Drive in Chicago, Illinois, on June 23, 2015.