The quantity theory of money asserts that:
a. changes in nominal GDP are inversely related to changes in the velocity of money.
b. changes in money supply are positively related to changes in the velocity of money.
c. changes in the money supply are unrelated to changes in the price level.
d. changes in the output level are unrelated to changes in the price level.
e. changes in the money supply are directly related to changes in nominal GDP.
e
You might also like to view...
Economists Cade Massey and Richard Thaler analyzed whether teams in the National Football League distributed salaries efficiently. Massey and Thaler found that
A) both rookie players and veteran players are paid less than the value of their marginal products because of the lack of competition among teams. B) veteran players who sign as free agents are paid more relative to their marginal products than rookie players selected in the first round of the draft. C) rookies are paid salaries greater than their marginal products; veteran players are paid salaries less than their marginal products. D) the first few players selected in first round of the NFL draft are paid much higher salaries relative to their marginal products than players drafted later in the first round.
A vertical aggregate supply curve implies __________ Phillips curve
A) an upward-sloping B) a downward-sloping C) a vertical D) a horizontal
Since the firm in the above figure is operating in a monopolistically competitive industry, in the long run we can expect to see
A) the typical firm's economic profits expand as production becomes more efficient. B) more firms entering the industry until economic profits are zero. C) the typical firm producing at the minimum point on its ATC curve. D) each firm expand its share of the total market.
The average federal matching assistance percentage across the U.S. received by the typical state is approximately _____ percent of overall Medicaid spending.
a. 75 b. 60 c. 50 d. 70 e. 55