If P = 2 and Y = 1000 . then which of the following pairs of values are possible?
a. M = $500, V = 4.
b. M = $250, V = 8.
c. M = $1,000 . V = 2.
d. All of the above are correct.
d
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Define comparative advantage and discuss its role in international trade
What will be an ideal response?
According to the kinked demand curve model, an oligopolist may face
a. more elastic demand than a monopolistic competitor. b. less elastic demand than a monopolistic competitor. c. more elastic demand if she raises her price than if she lowers her price. d. less elastic demand if she raises her price than if she lowers her price.
People choose to hold a smaller quantity of money if
a. the interest rate increases, which causes the opportunity cost of holding money to increase. b. the interest rate increases, which causes the opportunity cost of holding money to decrease. c. the interest rate decreases, which causes the opportunity cost of holding money to increase. d. the interest rate decreases, which causes the opportunity cost of holding money to decrease.
When the Social Security Administration holds U.S. Treasury Bonds
A. there is a balanced budget. B. interagency borrowing has occurred and the government owes itself. C. an entitlement has occurred. D. the gross public debt has increased.