If velocity is constant in the long run, which of the following results flow from the quantity theory of money?
A) A change in the money supply changes real GDP by an equal percentage.
B) A change in the money supply changes nominal GDP by an equal percentage.
C) A change in the money supply changes real interest rates by an equal percentage.
D) A change in the money supply changes consumer lending by an equal percentage.
Ans: B) A change in the money supply changes nominal GDP by an equal percentage.
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At full employment, actual ________ equals ________
A) real GDP; potential GDP B) real GDP; nominal GDP C) unemployment; zero D) potential GDP; nominal GDP E) nominal GDP; potential GDP
In the figure above, which of the following is true?
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What will be an ideal response?
The Supplemental Security Income (SSI) program focuses on the poor who are sick or disabled
a. True b. False Indicate whether the statement is true or false