The velocity of circulation of money is typically greater than 1
A. under no circumstances.
B. only if the unemployment rate is relatively low.
C. because the same money is exchanged a number of times each year.
D. because of inflation.
C. because the same money is exchanged a number of times each year.
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Four years after graduating from college you must decide if you want to go on as an accountant (your college major) or if you want to make a career change and become a singer. The cost of your education will matter for your decision
Indicate whether the statement is true or false
The law of demand indicates that as the price of a good increases:
A. suppliers sell less of it. B. suppliers sell more of it. C. buyers want to buy less of it. D. buyers want to buy more of it.
If a pure monopolist is producing more output than the MR = MC output:
A. the firm may, or may not, be maximizing profits. B. it will be in the interest of the firm, but not necessarily of society, to reduce output. C. it will be in the interest of the firm and society to increase output. D. it will be in the interest of the firm and society to reduce output.
Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4According to Figure 2.4, Point E necessarily represents
A. only motorcycles being produced. B. overallocation of resources. C. an impossible production point. D. technological advancement.