The velocity of money
A) is, according to the equation of exchange, equal to M/Y.
B) indicates the number of times per year a dollar is spent on final goods and services.
C) is, according to the equation of exchange, equal to P/M.
D) indicates the speed with which the U.S. Treasury can mint new coins.
B
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The largest portion of discretionary spending is devoted to
A) foreign aid. B) national defense. C) paying federal employees. D) the space program.
Which of the following is a property of an S-shaped curve that corresponds to the prospect theory value function?
A) The curve passes through the reference point at the origin. B) Both sections of the curve are convex to the horizontal, outcome axis. C) The curve is symmetric with respect to gains and losses. D) None of the above.
Which of the following is true?
a. The proportion of college degrees earned by women has been virtually unchanged during the last four decades. b. There was a substantial increase in the earnings of women relative to men in the 1960s and 1970s following the passage of legislation prohibiting employment discrimination against women. c. The number of women preparing for careers as professionals has declined during the last two decades. d. In 2010, 57 percent of those completing college degrees were women.
Consider the supply and demand curves depicted in the diagram below. If the government imposed a price ceiling of $15, then buyers will be intending to buy ___, but they will be able to legally buy ____
A. 30 units; 24 units
B. 36 units; 24 units
C. 36 units; 30 units
D. 24 units; more than 24 units