The velocity of money is:
A. money supply divided by prices.
B. spending divided by output.
C. required monetary reserves divided by income.
D. GDP divided by the money supply.
Answer: D
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"As the economy moves upward along its aggregate supply curve, the economy also moves upward along its short-run Phillips curve." Is the previous statement correct or incorrect? Briefly explain your answer
What will be an ideal response?
Signals are
A) used by economic decision-makers to inform others about their plans. B) the method by which government planners inform economic decision-makers about the types of decisions they should make. C) the method by which firms determine their profit maximizing quantity. D) compact ways of conveying to economic decision makers information needed to identify industries where more resources are needed.
To determine real GDP, divide nominal GDP by the
a. current values of goods and services. b. final goods and services. c. GDP deflator. d. value of GDP.
The cost of the CPI basket in base-period prices is $200 and the cost of the CPI basket in current-period prices is $450. The CPI in the current year is
A) 300. B) 250. C) 225. D) 44.44. E) 450. C) 225.