As monetarists view the equation of exchange:
A. V changes erratically and unpredictably.
B. V is quite stable.
C. V usually changes in the same direction of any given change in M.
D. V usually changes in the opposite direction of any given change in M.
B. V is quite stable.
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We can represent the entry of new firms into a monopolistically competitive market by shifting the existing firms':
a. demand curves downward. b. demand curves upward. c. demand curves more inelastic. d. cost curves upward. e. cost curves downward.
Goods produced abroad and sold domestically are called
a. exports. b. imports. c. exchange rates. d. opportunity costs.
The difference between M1 and M2 is given by which of the following?
a. M1 is limited to checkable deposits, whereas M2 contains currency. b. M1 is made up of currency and checkable deposits, whereas M2 contains M1 plus savings deposits and small time deposits. c. M1 includes only currency, whereas M2 contains M1 plus checkable deposits. d. M1 includes currency, coins, gold and silver, whereas M2 does not contain gold and silver.
If voters are rational, they are more likely to vote
A. if the issues are complex. B. when they are employed. C. in small local elections. D. in large national elections.