Which of the following is a variable in the equation of exchange?
A) real GDP.
B) the velocity of money.
C) the money supply.
D) the price level.
E) all of the above.
E
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Shopping at a warehouse, such as Sam's Club or Costco, allows its members to pay very low prices on the goods and services they buy. Customers who shop at such a store incur:
A. transaction costs because they must be members to shop there. B. no transaction costs because they pay prices that are lower than any other location. C. transaction costs because they must buy a product in bulk. D. no transaction costs because members can return any item purchased for any reason.
The Southern economy ________________ from the damages of the Civil War.
A. quickly recovered B. experienced no lingering effects C. suffered decades of economic transition
Based on this figure, if the krone exchange rate is fixed at $0.15 dollars per krone, then the krone is:
A. devalued. B. overvalued. C. revalued. D. undervalued.
If there is no one who is interested in borrowing from a bank:
A. the bank's excess reserves will be zero. B. there will be no process of money creation. C. the required reserve ratio must be equal to zero. D. the required reserve ratio must be equal to 100 percent.