In the equation of exchange, V indicates the:
A. value or purchasing power of the dollar.
B. number of times per year the average dollar is spent.
C. quantity of real output.
D. reciprocal of the price level.
B. number of times per year the average dollar is spent.
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Use the following figure showing the domestic demand and supply curves for product B in a hypothetical economy to answer the next question.
Prior-to-trade (autarky) producer surplus equals areas
A. B + C. B. J + H. C. B + C + D. D. B + C + D + E + F.
When an insurance company specifies certain precautions that an insured person must take it is trying to control for moral hazard.
Answer the following statement true (T) or false (F)
The money supply is $10 million, currency held by the nonbank public is $2 million, and the reserve—deposit ratio is 0.2. Bank reserves are equal to
A) $1.6 million. B) $2 million. C) $4 million. D) $8 million.
The marginal cost of a vacation in Jamaica is $3,000 . The marginal benefit to Jordan of a vacation in Jamaica is $3,500. a. According to the rule of rational choice, Jordan should choose not to vacation in Jamaica at this time
b. According to the rule of rational choice, Jordan will experience a net gain of $500 if he vacations in Jamaica. c. According to the rule of rational choice, Jordan will experience a net gain of $3,500 if he vacations in Jamaica. d. According to the rule of rational choice, Jordan will experience a net gain of $3,000 if he vacations in Jamaica.