The velocity of money is the average number of times per year that what occurs?
a. The quantity of money increases
b. The supply of money changes
c. Each dollar is used to purchase final goods and services
d. The Federal Reserve changes the Federal Funds Rate
c
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Which of the following is true under natural monopoly?
a. The marginal cost curve will be above the average cost curve. b. The monopolist will set price equal to marginal cost and will earn economic profits. c. Economies of scale exist. d. Output is produced under conditions of constant cost.
A managed floating exchange rate system is characterised by which of the following:
(a) The exchange rate varies with the market forces of supply and demand. (b) Some intervention by Central Banks is occasionally required. (c) Intervention by Central Banks usually occurs when the currency is either very strong or very weak. (d) All of the above.
Profits of private corporations are divided into:
What will be an ideal response?
Poor welfare recipients face higher marginal tax rates than do the richest families
a. True b. False