Keynesians view changes in velocity as the result of changes in
a. income.
b. expectations.
c. interest rates.
d. inflation.
e. all of the above.
E
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In the Solow model, if f(k) = 2k0.5, s = 0.1, n = 0.1, and d = 0.05, what is the value of f(k) at equilibrium?
A) 2/3 B) 4/3 C) 2 D) 8/3
One model in economics is the permanent income hypothesis, which basically states that a household's expenditures will not react to a change in income unless that change in income is viewed as being permanent
How would you use this model to predict the expenditure patterns over the course of a year of a real estate agent who only sells homes during the months of April through July?
A composite currency whose value is the average of the values of the U.S. dollar, the Japanese yen, the euro, and the British pound is known as a:
a. special drawing right. b. productive resource. c. standard of value. d. scarce diligence resource. e. scarce delivery resource.
When a market is not in equilibrium:
A. a change in either supply or demand is required to reestablish equilibrium. B. the economic motives of sellers and buyers will move the market to its equilibrium. C. government intervention is required to achieve equilibrium. D. there is neither excess supply nor excess demand.