In 2009, nominal GDP was $14,050 billion and M1 was $1,587 billion. Velocity was
a. 0.11.
b. 8.85.
c. 11.30.
d. 14.25.
c
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If a teacher tells a student that those who attend the study session typically score higher on the final exam,
A) the student has a positive incentive to attend the study session because she may get a higher grade. B) the student has a negative incentive to attend the study session because she will be punished if she does not go. C) the student has no greater incentive to attend because there is no guarantee she will get a higher grade on the exam. D) a "C" student will be making an irrational decision if she decides to skip the study session since she has plenty of time to go.
A reduction in the rate of population growth
A) always causes an increase in economic growth. B) never causes an increase in economic growth. C) may or may not cause an increase in economic growth. D) will cause a reduction in economic growth if accompanied by an increase in the rate of growth of real GDP.
The above figures show the market for HD televisions. If cable television providers lower the price of providing HD cable service, which figure shows the effect of this change?
A) Figure A B) Figure B C) Figure C D) Figure D E) None of the figures represent this change.
A market is said to be in equilibrium when
A. The buying intentions of all consumers are realized. B. The supply intentions of all sellers are realized. C. The quantity demanded equals the quantity supplied. D. Demand is fully satisfied at all alternative prices.