"The money supply multiplied by velocity must equal GDP" is a statement of the
A) simple quantity theory of money.
B) equation of exchange.
C) modern quantity theory of money.
D) all of the above
B
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Involuntary part-time workers are workers who
A) work less than 35 hours but would like to work full time. B) work more than 35 hours but would like to work less than 35 hours. C) work have lost their jobs within the last four weeks and are seeking another job. D) work less than 35 hours by choice. E) have withdrawn from the labor market.
In the figure above, the second poorest 20 percent of households receive ________ of total income
A) 5 percent B) 10 percent C) 15 percent D) 20 percent
To try and stave off a devaluation of its fixed currency, Argentina was required to
a. lower interest rates. b. reduce tax levels. c. increase their money supplies. d. increase interest rates.
The chairman of the Federal Reserve is considered one of the most important economic positions in the world because this person has significant direct control over the conduct of:
A. international trade policy in the United States. B. fiscal policy in the United States. C. monetary policy in the United States. D. government budget in the United States.