The velocity of money increases if:
A. each unit of money is used less frequently.
B. each unit of money is used more frequently.
C. more purchases are made.
D. none of the above answers is correct; the velocity of money is constant.
Answer: B
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The branch of economics that deals with the analysis of the whole economy is called
A) macroeconomics. B) marginal analysis. C) microeconomics. D) metroanalysis.
Answer the following statement(s) true (T) or false (F)
1. Based on the benefit-cost analysis of the Clean Water Act presented in the text, Total Social Benefits (TSB) exceed Total Social Costs (TSC) and hence U.S. water quality standards are set at the allocatively efficient level. 2. According to the benefit-cost analysis of the Clean Water Act presented in the text, water quality standards set by the Clean Water Act are too stringent. 3. Receiving water quality standards and total maximum daily loads are equivalent. 4. Mercury is the leading pollutant for U.S. bays and estuaries. 5. Technology-based effluent limitations are defined by a states’ receiving water quality standard.
The impact of monetary policy through exchange rates tends to ________ the impact of monetary policy through real interest rates.
A. totally negate B. reinforce C. contradict D. be exactly the same as
The ________ of something is the gain or pleasure that it brings
A) rational margin B) marginal cost C) benefit D) opportunity cost E) rational choice