According to the quantity theory of money, changes in the price level are the result of changes in the
A) prime interest rate.
B) real interest rate.
C) quantity of money.
D) velocity of circulation.
C
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If there are an estimated 20,000 barrels of unknown reserves of oil, annual consumption of oil is 800 barrels, and it is estimated that the supply of oil will be depleted in 50 years, how many barrels of known reserves of oil are there estimated to
be, all else equal? A) 1,250 B) 16,000 C) 20,000 D) 320,000
Over the past twenty years, the number of small family farms has fallen significantly and in their place there are fewer, but larger, farms owned by corporations. Which of the following best explains this trend?
A) diminishing returns to labor in farming B) declining productivity C) diseconomies of scale in farming D) economies of scale in farming
A stock's price will fall if there is
A) a decrease in perceived risk. B) an increase in the required rate of return. C) an increase in the future sales price. D) current dividends are high.
The price at which an option may be exercised is called the
A) market price. B) equilibrium price. C) strike price. D) fixed price.