What is velocity of money?
A) It is the number of times households convert bonds to money to facilitate economic transactions.
B) It is the rate at which money supply is spent to obtain the goods and services that make up GDP during a particular time period.
C) It is the rate at which money supply can grow while keeping the price level stable.
D) It is the number of times the money supply is spent to obtain the goods and services that make up GDP during a particular time period.
Ans: D) It is the number of times the money supply is spent to obtain the goods and services that make up GDP during a particular time period.
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Refer to the graph below. The slope of the line tangent to the curve at point B is:
A. 0.5
B. 3
C. 6
D. 2.0
A perfectly price inelastic demand curve will be a ________ line.
A. vertical B. horizontal C. negatively sloped D. positively sloped
If the nominal exchange rate is 4 Israeli shekels per U.S. dollar, and 0.178 Jordanian dinars per Israeli shekel, then there are ________ Jordanian dinars per U.S. dollar.
A. 0.025 B. 5.618 C. 0.045 D. 0.712
Refer to the tables below . For OMICS, the opportunity cost of producing an additional unit of B is:
Two nations, ECON and OMICS, each produce goods A and B. The table gives points on each nation's production possibilities curve.
A. 1/3 unit of A
B. 1/2 unit of A
C. 2/3 unit of A
D. 1 unit of A