If nominal GDP is $12 trillion, the price level is 120, and the quantity of money is $4 trillion, what is the velocity of circulation?
A) 3
B) 2.5
C) 30
D) 25
A
Economics
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As the real wage increases, the opportunity cost of working outside the home increases
a. True b. False
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The self-correcting tendency of the economy means that rising inflation eventually eliminates:
A. unemployment. B. exogenous spending. C. recessionary gaps. D. expansionary gaps.
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When a firm sells a given product at more than one price and the price difference is NOT caused by differences in cost then there is
A. price delineation. B. price discrimination. C. price demarcation. D. price differentiation.
Economics
The primary assumption made in ________ justice is that people are risk ________.
A. utilitarian; loving B. utilitarian; averse C. Rawlsian; loving D. Rawlsian; averse
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