Critics of the U.S. definition of poverty claim it is an inaccurate measure of our poor because:
A. it is a single number that does not capture regional differences in the cost of living.
B. it fails to account accurately for expenditures other than food.
C. the ratio of food to total income is different now than when the definition of poverty was defined.
D. All of these are true.
Answer: D
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Fill in the blank(s) with the appropriate word(s).
If the price level P equals 1.50, GDP is $6,000 billion, and the stock of money is $900 billion, the velocity of circulation of money is about
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