The difference between the equation of exchange and the quantity theory of money is that the
a. equation of exchange assumes that the level of real GDP is constant.
b. quantity theory of money assumes that the Fed has no control over the money supply.
c. equation of exchange assumes that the level of nominal GDP is constant.
d. quantity theory of money assumes that velocity is virtually constant.
d
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Describe the channels through which an open market sale of bonds by the Fed affects output in a closed economy
What will be an ideal response?
The share of ________ goods in employment is ________ across the country. The share of ________ goods in employment is ________ across the country
A) nontraded; uniform; traded; variable B) traded; uniform; nontraded; variable C) durable; uniform; nondurable; variable D) nondurable; uniform; durable; variable E) nontraded; variable; traded; uniform
In a market economy, those who are willing and able to buy what is produced
A) receive the most of what is produced. B) receive no more than everyone else in the market. C) solely determine what is produced. D) receive what the government allows them to receive.
After an excise tax is imposed on a good or service,
a. the equilibrium price and quantity are unchanged b. firms must charge a higher price for any particular quantity c. firms must charge a lower price for any particular quantity d. the equilibrium price and quantity will both increase e. the equilibrium price and quantity will both decrease