What is the effect on velocity if payments are made more often?
A. Velocity will decrease.
B. Velocity will increase.
C. Velocity will remain constant.
D. Velocity is unrelated to payments.
Answer: B
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Check collection and clearing happen
A) at the bank where the check was written. B) only at private clearing centers. C) at the Fed and at private clearing centers. D) only at the Fed.
If the demand curve for X has twice the elasticity of the demand curve for Y, then for the same percentage decrease in price, the percentage increase in the quantity of X demanded would be twice that for Y
a. True b. False Indicate whether the statement is true or false
In the short run, international trade allows a monopolistically competitive firm an opportunity:
a. to produce more output. b. to earn monopoly profits. c. to reduce its average costs. d. to produce more output, earn monopoly profits, and reduce its average costs.
If a firm shuts down for a week, during that week its:
A. total variable cost exceeds total fixed cost. B. total cost is zero. C. total cost equals total variable cost. D. total cost equals total fixed cost.