Look at your dollar bill. Is it crisp and unmarred or old, wrinkled, and bent? The difference has much to do with the number of times that poor dollar has had to work during the year. Economists refer to that number as the
a. quantity theory of money
b. velocity of money
c. equation of exchange
d. reproduction rate of money
e. expenditure rate of money
B
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Suppose hamburgers and hotdogs are substitute goods. Other things constant, a rise in the price of hotdogs would tend to
A) decrease the demand for hotdogs. B) decrease the demand for hamburgers. C) increase the demand for hotdogs. D) increase the demand for hamburgers. E) do any of the above, because nobody needs hotdogs or hamburgers.
Refer to Figure 19-9. According to the graph, is there a surplus or shortage of Saudi Arabian riyal in exchange for U.S
dollars? To maintain the pegged exchange rate, will the Saudi central bank need to buy riyal in exchange for dollars or sell riyal in exchange for dollars? How many riyal will the Saudi central bank need to buy or sell?
The likelihood of successful private solutions to problems caused by externalities depends, in part, upon the number of interested parties. Briefly explain
Refer to the information provided in Table 23.7 below to answer the question(s) that follow. Table 23.7
Refer to Table 23.7. At an aggregate output level of $200 billion, the unplanned inventory change is
A. -$200 billion. B. -$150 billion. C. -$50 billion. D. $100 billion.