How can the Cambridge equation be restated according to Friedman's money demand theory?
a. Md = k(rB, rE, rD)Py
b. Md = k/Py(rB, rE, rD)
c. Md = Py/k(rB, rE, rD)
d. Md = (rB, rE, rD)Py/k
A
You might also like to view...
The key indicator of a country's living standard and economic well-being is:
A. real GDP. B. the interest rate. C. real GDP per person. D. nominal GDP per person.
Marginal profit is the additional profit that accrues to the firm when the output rises by one unit.
Answer the following statement true (T) or false (F)
If the average variable cost of a firm is falling, then the:
a. average fixed cost must be rising. b. marginal cost must be falling. c. marginal cost must be rising. d. marginal cost lies below the average variable cost. e. marginal cost lies above the average variable cost.
Which of the following is most likely to be an inferior good? a. Porsches
b. Lobster. c. Used clothing. d. An Ivy League education.