The quantity theory of money can be written as
A. M/V = PY.
B. MP = VP.
C. MV = PY.
D. MV = P/Y.
Answer: C
You might also like to view...
A movement from A to C in Figure 7.2 may represent
A) economies of scale. B) diseconomies of scale. C) learning. D) economies of scope. E) diseconomies of scope.
There are generally, in most areas, a large number of qualified physicians whose services are highly personalized. In addition to price, factors such as age, sex, location, and personality influence the choice of physician. Thus, the market is best described as
a. perfectly competitive. b. a differentiated oligopoly. c. a monopoly. d. monopolistically competitive.
The table below gives the quantities and prices for 2005 and 2015 for an economy that produces just two goods: sailboats and coconuts. Quantities ProducedPrices?2005201520052015Sailboats1020$500$525Coconuts2,0002,400$1$2 For this economy that produces just sailboats and coconuts, and with 2005 as the base year, real GDP was approximately ________ times larger in 2015 than it was in 2005.
A. 1.34 B. 1.77 C. 2.19 D. 1.65
A normative statement is one that:
A. is based on the law of averages. B. applies only to microeconomics. C. applies only to macroeconomics. D. is based on value judgments.