The velocity of circulation is defined as the
A) average number of times in a year that each dollar is used to buy goods and services.
B) price level obtained when the money market is at its equilibrium.
C) quantity of money demanded at equilibrium.
D) speed with which changes in the interest rate spread throughout the economy.
E) quantity of money supplied by the Fed.
A
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Holding other things constant, if the Japanese Yen, depreciates, it makes the imports to Japan
a. More expensive for Japanese customer b. Less expensive for Japanese customers c. Neither more or less expensive for importers d. None of the above
Which of the following games will have a solution in mixed strategies?
a. A price-fixing game b. A Prisoner's dilemma c. A drafting game used by racing cars. d. A product choice game with asymmetric profits
Which of the following would likely cause the greatest deadweight loss?
a. a tax on cigarettes b. a tax on salt c. a tax on cruise line tickets d. a tax on gasoline
What causes a decrease in income in this graph?
a. The total of areas d + f is less than the total of areas e + d.
b. The total of areas d + f is more than the total of areas e + d.
c. The total of areas e + f is less than the total of areas e + d.
d. The total of areas e + f is more than the total of areas e + d.