Fluctuations in velocity tend to increase when measured using M1 instead of M2.
Answer the following statement true (T) or false (F)
True
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Fact: People use water for many different purposes, from drinking and cleaning to filling pools, balloons, and squirt guns. Economists acknowledge the multiple uses of water when they point out that
A) everybody needs water. B) water is a good with many alternative uses at the margin. C) the demand for water is completely inelastic—consumers are totally insensitive to changes in the price of water. D) nothing but water can be used to serve all the purposes water serves.
The three business cycle models differ mostly in their treatment of ________
A) aggregate demand B) short-run aggregate supply C) long-run aggregate supply D) productivity shocks
The Hazards, a professional baseball team, want to sign pitcher Alex McScoob to a two-year contract but, because of salary cap limitations, can only pay $8 million for the first year (Alex's market value is $10 million per year). The Hazards offer to pay
$8 million in year 1 and $13million in year 2. Should Alex sign the contract? A. Yes, Alex is better off financially regardless of the interest rate. B. Yes, if the interest rate is less than 50 percent. C. Yes, but only if the team expects to be successful. D. Yes, but only if the interest rate is less than 10 percent.
At the beginning of 2018, the Absorbo Company has 10,000 sponges in stock. During 2017, the company produces 200,000 sponges and sells 160,000 sponges. The Absorbo Company's stock of inventory at the end of 2018 is ________ sponges.
A. 25,000 B. 30,000 C. 40,000 D. 50,000