Which of the following is the velocity of money?
a. How quickly the average worker gets paid after his or her work is done.
b. The average speed of ATM machines.
c. The average number of times per year that a given dollar of the money supply is spent.
d. None of the above.
c
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If the utility for two goods "x" and "y" can be measured as U = x, then it can be concluded that
A) "x" and "y" are perfect complements. B) "y" is a "bad". C) the indifference curves on the x,y graph are upward sloping where "x" is measured on the horizontal axis. D) the indifference curves on the x,y graph are vertical where "x" is measured on the horizontal axis.
If the price level rises, what will happen to the demand for reserves?
A. It will shift outward. B. It will shift inward. C. It will remain unchanged. D. It depends on what happens to interest rates.
McDonald's identifies the hidden characteristics of its potential franchisees by engaging in a significant application process in which financial resources must be substantiated
Indicate whether the statement is true or false
Why might a rise in the price of electric razors result in an increase in demand for nonelectric razors?
(A) Because nonelectric razors are more plentiful than electric razors. (B) Because people might decide to shift to nonelectric razors to save money. (C) Because electric razors are normal goods but nonelectric razors are inferior goods. (D) Because nonelectric razors work better than electric razors.