The velocity of circulation is the number of times per year a dollar is spent
a. True
b. False
Indicate whether the statement is true or false
True
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Economic freedom refers to the freedom of the government to control resources and labor in a country
a. True b. False Indicate whether the statement is true or false
If the rate of extraction of a renewable resource is greater than its rate of replenishment, the price of the resource is likely to fall in future
a. True b. False Indicate whether the statement is true or false
At a given nominal rate of interest, when spending is equal to output and there is uncovered interest parity, we have:
A) real exchange rate parity. B) equilibrium in the goods market and in the forex market. C) stable inflation and low unemployment. D) depreciation of the home currency.
A consumer's willingness to pay:
A. is his or her reserved minimum bid-price. B. is the maximum price that a buyer would be willing to pay for a good or service. C. must always equal the seller's willingness to sell. D. is the minimum price that a buyer would be willing to pay for a good or service.