If the money supply is constant when both nominal and real GDP are rising, we can conclude that:
A. tax rates have been increased.
B. the velocity of money must be increasing.
C. interest rates are falling.
D. the unemployment rate is rising.
B. the velocity of money must be increasing.
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Which of the following statements is true?
A) Monopoly is characterized by no entry barriers. B) Perfect competition is characterized by high entry barriers. C) Firms in a market with entry barriers are likely to have more market power than firms in a market with no entry barriers. D) Firms in a market with no entry barriers are likely to have more market power than firms in a market with entry barriers.
The incidence of an excise tax
a. refers to who really pays it b. always falls on suppliers c. is equally divided between demanders and suppliers d. is determined by the number of demanders e. is decided by the government when the tax is imposed
One reason stagflation is difficult to recover from is because:
A. less output requires less inputs to be hired. B. prices tend to adjust more quickly downward than upward. C. wages are sticky downward. D. input prices increase with output prices.
Which of the following would be an example of basic research?
A. Studies of the atmosphere on Neptune B. Research into gene therapy to treat Alzheimer's disease C. A pharmaceutical company's research into a chemical compound that could reduce the growth rate of cancer cells D. Studies of circuit miniaturization for applications in computers