Suppose velocity is 3, real output is 9000, and the price level is 1.5. What is the level of real money demand in this economy?
A. 6000
B. 2000
C. 30,000
D. 3000
Answer: D
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If real GDP in the United States is growing at an annual rate of 3.2% per capita and Bolivia's real GDP per capita
is growing at a rate of 1.3%, which of the following would we expect in the long run? Assume real GDP per capita in the United States begins at a level above that of real GDP per capita in Bolivia. A) Real GDP per capita in the United States will always be 1.9% higher than real GDP per capita in Bolivia. B) The difference between the level of real GDP per capita in the United States and real GDP per capita in Bolivia will increase over time. C) The difference between the level of real GDP per capita in the United States and real GDP per capita in Bolivia will always be $1.9 trillion. D) The difference between the level of real GDP per capita in the United States and real GDP per capita in Bolivia will shrink over time.
Suppose the market supply curve is p = 5Q. At a price of 10, producer surplus equals
A) 50. B) 25. C) 12.50. D) 10.
To protect the environment, governments in the United States have mainly used
a. legally enforceable direct controls on pollution. b. taxes on goods whose production creates pollution. c. direct taxes on emissions. d. discretionary guidelines suggested to polluting firms.
The crowding-out effect can be:
a. Any of the answers are correct. b. partial. c. complete. d. zero.