The velocity of circulation of money is the ratio of the real gross domestic product to the money supply
a. True
b. False
Indicate whether the statement is true or false
False
You might also like to view...
Which of the following is probably the best example of a free good?
A) The air in your college classroom B) A can full of garbage put out for trash collectors C) Interstate highways D) Free concert tickets, which were given to you by a friend
In 2011, Armenia had a real GDP of approximately $4.21 billion and a population of 2.98 million. In 2012, real GDP was $4.59 billion and population was 2.97 million. From 2011 to 2012, Armenia's standard of living ________
A) increased B) decreased C) did not change D) might have increased, decreased, or remained unchanged but more information is needed to determine which
Which of the following is true?
A) Changes in personal costs and benefits will exert a predictable influence on the choices of people. B) If the intentions behind a policy are good, you can be assured that the outcome will be desirable. C) If a good is provided free to an individual by government, its production will not consume valuable scarce resources. D) If one individual gains from an economic activity, then someone else must lose.
Suppose a country’s workers can produce 4 watches per hour or 16 rings per hour. If there is no trade
A. the opportunity cost of 1 watch is 4 rings. B. the opportunity cost of 1 watch is 1/4th of a ring. C. the opportunity cost of 1 watch is 5 rings. D. the opportunity cost of 1 watch is 1/5th of a ring.