If GDP is $36,000 and velocity is 3, the money supply is
A. $27,000.
B. $12,000.
C. $4,000.
D. $3,000.
Answer:
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A. Southland; higher in Southland B. Southland; the same in both countries C. Northland; higher in Northland D. Northland; the same in both countries
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Answer the following statement true (T) or false (F)
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What will be an ideal response?
The incidence of a tax explains what group pays the burden of a tax
a. True b. False Indicate whether the statement is true or false