The slope of a line is:
a) The vertical distance between the two points, divided by the horizontal distance between the two points.
b) Sometimes referred to as "run over rise."
c) The horizontal distance between the two points, divided by the vertical distance between the two points.
d) Always positive.
Answer: a) The vertical distance between the two points, divided by the horizontal distance between the two points.
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Which classical economist observed that, when the money supply expanded after gold discoveries, it took some time for prices to rise, and in the meantime, the economy enjoyed higher employment and production?
a) David Hume b) Joan Robinson c) Adam Smith d) David Ricardo
Starting from a position of macroeconomic equilibrium at below the full-employment level of real GDP, an increase in the money supply will:
A. raise interest rates, prices, and reduce real GDP. B. raise interest rates, lower prices, and leave real GDP unchanged. C. raise interest rates, lower prices, and leave real GDP unchanged. D. lower interest rates, raise prices, and increase real GDP.
Suppose the interest rate is 6 percent, the expected growth rate of the firm is 3 percent, and the firm is expected to continue forever. If current profits are $1,200, what is the value of the firm?
A. $42,400 B. $40,000 C. $36,500 D. $41,200
The ________ is the number of times a dollar bill exchanges hands in a year.
A. government spending multiplier B. money supply ratio C. exchange rate D. velocity of money