In the Keynesian theory of money demand,
a. the velocity of money is constant.
b. the marginal propensity to hold money is constant.
c. money is held in part because it is an asset.
d. interest rates are fixed.
e. none of the above.
C
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Answer the next question on the basis of the following information: Three goods are produced in an economy in the following amounts: A = 10, B = 30, C = 5. The current year per unit prices of these three goods are A = $2, B = $3, and C = $1.Nominal GDP in the current year is ________.
A. $110 B. $115 C. $90 D. $45
The figure above shows the supply curve for pizzas
a. What is the marginal cost of the 20th pizza? b. What is the minimum supply price of the 20th pizza? c. If the price is $6 per pizza, what is the producer surplus on the 20th pizza? d. If the price is $6 per pizza, what is the producer surplus for the total quantity of pizzas produced? e. If the price is $8 per pizza, what is the producer surplus for the total quantity of pizzas produced? f. If the price is $10 per pizza, what is the producer surplus for the total quantity of pizzas produced?
According to the Keynesian model, real wages should
A) remain constant. B) fall during recessions. C) rise during recessions. D) stay the same during recessions but rise during expansions.
Using the expenditure approach, GDP equals:
A. C + I + G + (X ? M). B. C + I + G + (X + M). C. C + I ? G + (X ? M). D. C + I + G ? (X ? M).