According to the equation of exchange, if real Gross Domestic Product (GDP) is $25 billion, the money supply is $10 billion, and the price index equals 2, then the income velocity of money is
A) 5.
B) 10.
C) 25.
D) 50.
A
Economics
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The total amount of consumption of a society can be increased if
A. firms allow each worker to perform multiple tasks. B. resources are allocated by a central planning group. C. individuals engage in specialization and voluntary trade. D. barter exchange is used in place of money.
Economics
Explain the role the Fed, Congress, and the President play in making monetary policy
What will be an ideal response?
Economics
Entry causes ____ to increase and a firm's demand curve to ____
A) quantity supplied, fall. B) supply, rise C) supply, fall. D) demand, rise.
Economics
The economy is in long-run equilibrium when:
What will be an ideal response?
Economics