Which of these is a flow variable?
What will be an ideal response?
income
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Which of the following would tend to decrease velocity?
a. an increase in interest rates b. more frequent paychecks c. expected decreases in inflation d. more efficient payment systems
One measurement of economic prosperity is
A. the gross domestic product. B. interest rates. C. the happiness index. D. the gross domestic policy.
When firms in a perfectly competitive market incur economic losses, exit by some firms means the market supply will
A) increase. B) decrease. C) not change. D) become vertical. E) become the same as the individual producers' supplies.
Advocates of the public-choice view argue that elected officials
a. will always respond to inflation with expansionary policies but will respond to unemployment with restrictive policies. b. will actively respond to inflation with restrictive policies but are reluctant to respond to unemployment with expansionary policies. c. will always respond to both inflation and unemployment with expansionary policies. d. None of the above