The equation of exchange is expressed as:
A. MV = PQ.
B. MR = PQ.
C. MPP = P.
D. MR = MC.
Answer: A
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The law of supply reflects the negative relationship between the price of a good or service and the quantity of that good or service that sellers are willing to offer for sale
Indicate whether the statement is true or false
If the rental rate increases, we know for sure that the firm will produce less and will (in the long run) use less capital.
Answer the following statement true (T) or false (F)
As the economy recovers from a recession, we should expect that demand for
a. inferior goods will fall and demand for non-inferior goods will rise b. all goods will rise c. inferior goods will rise and demand for non-inferior goods will fall d. all goods will fall e. complements will fall
Answer the question based on the information given in the table below that shows the items and figures taken from a consolidated balance sheet of the twelve Federal Reserve Banks. All figures are in billions of dollars.
In the balance sheet above for the Federal Reserve, the assets would be items 5 and:
A. 1 and 2
B. 2 and 3
C. 3 and 4
D. 4 and 6