Which of the following is most likely to increase the velocity of money?
a) higher frequency of paychecks
b) decrease in price level
c) decrease in interest rates
d) decrease in personal income
e) increase in unemployment rate
Ans: a) higher frequency of paychecks
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The value of goods produced in a previous year but sold in the current year is added to the GDP for the current year
Indicate whether the statement is true or false
Refer to the figure above. What is the change in total revenue due to a price reduction from $6 to $4?
A) The total revenue increases by $300. B) The total revenue decreases by $600. C) The total revenue increases by $200. D) The total revenue increases by $600.
Which of the following is a public good?
a. railroads b. genetic diversity c. a space station d. military aircraft e. commercial aircraft
The demand for reserves will increase at lower levels of GDP
a. True b. False Indicate whether the statement is true or false