If nominal GDP is $954 billion and velocity is 9, then the money supply:
a. is $106 billion
b. is $122 billion.
c. is $98 billion.
d. is greater than $8 trillion.
a
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Research has shown that a person is more likely to vote if which of the following is true?
a. they feel connect to the community they live in b. the costs of voting is extremely low c. they do not feel connected to the community they live in d. there has been a large amount of campaign spending
In 2008-2010, American policy makers decided to risk
a. higher inflation for the sake of decreasing unemployment. b. higher unemployment to hold down inflation. c. increasing taxes for the sake of reducing the budget deficit. d. reducing government spending for the sake of balancing the budget.
Business cycles affect long run growth because
a) uncertainty caused by business cycles deters investment b) installation costs for new plant and equipment are lower during recessions than during periods of expansion c) human capital depreciates during recessions d) the competition to survive a recession provides incentives for firms to reorganize for greater efficiency e) all of the above
A monopoly producing a chip at a marginal cost of $6 per unit faces a demand elasticity of ?2.5. Which price should it charge to optimize its profits?
A. $10 per unit B. $6 per unit C. $8 per unit D. $12 per unit