The concept that shows the relationship among GDP, the money stock, and the velocity of circulation of money is called the
A. law of diminishing marginal utility.
B. equation of exchange.
C. law of demand.
D. law of diminishing returns.
B. equation of exchange.
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The intertemporal budget constraint is defined as:
A) DP + DF/(1 + r) = QP + QF/(1 + r) B) V = QP + QF/(1 + r) C) V = DP + DF/(1 + r) D) DF + DP/(1 + r) = QF + QP/(1 + r) E) DP + DF(1 + r) = QP + QF(1 + r)
In the United States it is clear that if a dollar were diverted from present consumption to present investment, the return on that investment would be ________ to reward the deferral of consumption, meaning that overall economic welfare would rise
with ________ in national saving. A) insufficient, an increase B) insufficient, a decrease C) more than sufficient, an increase D) more than sufficient, a decrease
In 2010 the U.S. economy's inflation rate was higher than its unemployment rate
a. True b. False Indicate whether the statement is true or false
With multiple-peaked preferences,
A. a unique political equilibrium does not exist. B. all individuals have a point that is most preferred. C. the law of transitivity is violated. D. all of these answer options are correct.