What best describes Thomas Jefferson's view of how American Indians should be treated?
a. Tribes should be forced to leave their native lands in the east and move west.
b. Indians should have full property rights that should be respected by whites.
c. Indians could continue to live on their reservations but the federal government should have access to all mining and natural resources on their land.
b. Indians should have full property rights that should be respected by whites.
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The velocity of money is defined as
A) real GDP divided by the money supply. B) nominal GDP divided by the money supply. C) real GDP times the money supply. D) nominal GDP times the money supply.
To know whether a particular situation for a family, business, or government involves an equilibrium or not, one must
A) understand the circumstances fully. B) determine whether the accounts are in balance. C) determine whether the credits equal the debits. D) determine whether a particular portion of the accounts are in balance or not.
Virtual Currency Unit 3 (VCU3) is poses a __________ risk to nations in which is it used because ___________________________
a. Low; it conversion back into real world currencies causes no change in M2, the monetary base, or net demand for real goods and services. b. Low; it cannot be converted back into real world (legal tender) currencies. c. High; it can be converted and spent on real-world goods and services. d. High; online companies can create as much as they want, which could overinflate a nation's money supply and excessively increase demand.
Which of the following is the best definition of gross domestic product (GDP)?