The empirical data reveals the velocity of M2 to be:
A. relatively stable in the long run.
B. higher than the velocity of M1.
C. stable only when measured annually.
D. highly volatile in the long run.
Answer: A
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An argument against the benefits-received principle is the benefits the rich receive from government programs are available to everyone
Indicate whether the statement is true or false
Your company makes copper pipes. Over the years, you have collected a large inventory of raw copper. The production process involves melting the copper and shaping it into pipes. You also have a large stockpile of pennies
Suppose the price of copper rises so much that the copper in the penny becomes worth more than one cent. Should you melt down your pennies?
Refer to Figure 10.2. At output Qm, and assuming that the monopoly has set her price to maximize profit, the consumer surplus is:
A) CDE. B) BDEF. C) ADEG. D) 0DEQm. E) none of the above
an announcement that the "beginning stocks" of corn were higher than expected is an indication that:
a) prices would be expected to decrease more than previously expected b) prices would be expected to increase more than previously expected c) there is no effect on prices: stocks are unrelated to the level of future prices