Assuming that, over a given period, the value of transactions in current dollars is $8 trillion and the money stock is $500 billion. What is the transaction velocity of money?
a. .0625
b. 12
c. 16
d. None of the above
C
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In a world with no money, costs are expressed in terms of other goods. If one video game costs two hamburgers, and a hamburger costs three sodas, how many sodas would it take to buy a video game?
A) 6 B) 5 C) 3 D) 3/2
The efficient quantity of a public good is the quantity that sets the marginal social benefit from the good equal to the good's marginal social cost
Indicate whether the statement is true or false
The main goal of monetary policy for recent Fed Chairmen has been to maintain high employment in labor markets
Indicate whether the statement is true or false
The monopolist's input demand curve is the
A) marginal revenue curve. B) marginal revenue product curve. C) marginal physical product curve. D) marginal factor cost.