The quantity theory of money is most likely to be relevant
a) when money supply growth is 2% or less
b) as a short-term policy prescription
c) for economies on the gold standard
d) as a long run explanation for inflation
e) when the velocity of money is volatile
d) as a long run explanation for inflation
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Explain how the labor force participation rate and the unemployment rate change in a recession
What will be an ideal response?
Provide some examples of industries near your school that operate in monopolistic competition (excluding those given on the text page in the figure)
What will be an ideal response?
Education and job training are part of:
A.) Business inventory spending. B.) Consumer spending on durables since the impact is long lasting. C.) Human capital investment. D.) Income transfers.
In a monopoly,
A) marginal revenue is greater than price. B) marginal revenue is less than price. C) the demand curve is horizontal. D) marginal revenue and price are equal