Which of the following equations correctly describes the quantity equation in terms ofpercentage rate of change? ? means "change in."
A) %?M÷%?V=%?P x %?Y
B) %?M+%?V=%?P+%?Y
C) %?M÷%?V=%?Y÷%?P
D) %?M x %?V=%?P x %?Y
Ans: B) %?M+%?V=%?P+%?Y
You might also like to view...
Total fixed cost
a. increases as output increases. b. declines as output increases. c. is always zero. d. remains constant even if the firm shuts down.
The most broadly based price index is the:
a. GDP chain price index. b. real GDP price index. c. producer price index. d. consumer price index.
If an increase in the price of blue jeans leads to an increase in the demand for tennis shoes, then blue jeans and tennis shoes are
a. substitutes b. complements c. normal goods d. inferior goods e. none of the above
Government intervention may achieve a more optimal outcome than the market mechanism when addressing
A. The supply of new hot dog stands. B. Consumption of cigarettes. C. Inefficient bureaucracy. D. None of the choices are correct.