In the short run, an increase in the quantity of money normally
a. has no effect; in the long run, V will increase.
b. has no effect; in the long run, V will decrease.
c. results in an increase in velocity.
d. results in a decrease in velocity.
d
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An essential characteristic of credit unions is that
A) they are typically large. B) branching across state lines is prohibited. C) their lending is primarily for mortgage loans. D) they are organized for individuals with a common bond.
The largest category of capital-market instrument is
A) corporate stock. B) large-denomination negotiable certificates of deposit. C) U.S. government securities. D) commercial and consumer loans.
Some economists reject the idea that bigness is __________. These people believe our policy should be __________
a. c, d, and e b. efficient or technologically superior; to encourage bigness c. inevitable; to break big firms up d. contestable; to contest bigness e. inevitable; laissez-faire
Figure 4-25
Refer to . The tax causes a reduction in consumer surplus that is represented by area
a.
A.
b.
B + C.
c.
D + E.
d.
F.