The velocity of money is equal to
A. P / M × Y.
B. P × Y / M.
C. Y × P × M.
D. P × M / Y.
Answer: B
You might also like to view...
If Johanna purchases a bond for $4,500 that promises to pay her $5,000 one year later, what is the interest rate on the bond?
a. 5.3 percent b. 5.6 percent c. 10.0 percent d. 11.1 percent e. 10.5 percent
A theory can best be defined as
a. an untested assertion of untested fact. b. a collection of assumptions that simplify the real world. c. an opinion of a reliable person who studies a subject or discipline. d. a deliberate simplification of factual relationships that attempts to explain how those relationships work. e. the body of knowledge that has been scientifically verified by the scientific community.
A soda factory employs seven workers and produces 500 bottles of soda a day. The company reduces the workforce to six workers and output is now 450 bottles a day. The seventh worker:
A. had a lower marginal product than the sixth worker. B. caused average product to fall. C. had a marginal product of 50 bottles of soda. D. All of these are true.
With a natural monopoly, a potentially insurmountable barrier to entry can be the
A. low profit margins. B. decreasing average total costs. C. high fixed costs. D. decreasing marginal costs.