If GDP is $9,000 billion and the money supply is $1,800 billion, velocity is approximately
A) 0.20.
B) 6.00.
C) 4.15.
D) 5.00.
E) There is not enough information provided to answer this question.
D
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Which of the following correctly ranks the amounts from smallest to largest?
A. output per person, total output, average labor productivity B. total output, average labor productivity, output per person C. total output, output per person, average labor productivity D. output per person, average labor productivity, total output
Natural resources are
a. not considered scarce because no one pays for them b. only desired for use in producing other goods c. included in the category of resources called gifts of nature d. available in unlimited quantities e. not considered scarce because they are not produced by society
The financial system:
A. gathers information about the economy in an effort to inform the public. B. brings together savers and borrowers in a set of interconnected markets where people trade a variety of financial products. C. connects the government to those truly in need of public services. D. is used to help individuals keep track of the general price level.
Which is not a factor of production?
a. Capital b. Money c. Land d. Labor