Suppose over some period of time the money supply tripled, velocity was unchanged, and real GDP doubled. According to the quantity equation the price level is now
a. 6 times its old value.
b. 3 times its old value.
c. 1.5 times its old value.
d. 0.75 times its old value
c
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Regardless of whether a negative externality is emitted by consumers or by producers, a Pigouvian tax can be imposed on consumers only.
Answer the following statement true (T) or false (F)
Refer to the scenario above. If Frank discounts delayed utilities with a weight of 9/10, then which of the following statements is true?
A) He will eat both hotdogs and ice cream. B) He will eat hotdogs but avoid ice cream. C) He will eat ice cream but avoid hotdogs. D) He will avoid consuming both hotdogs and ice cream.
What would best describe the international capital markets?
A) the market of exchange of bonds B) the market of exchange of stocks C) the market of exchange of real-estate D) the market in which residents of different countries trade assets E) the currency market
Which of the following is not a legal barrier to entry in a monopolized market?
a. A patent. b. An exclusive franchise. c. Decreasing average cost. d. An exclusive license.