If velocity remains relatively constant, changes in the money supply can have a predictable effect on nominal GDP
a. True
b. False
Indicate whether the statement is true or false
True
You might also like to view...
The LM curve shows points of equilibrium in the money market and combinations of
A) inflation and unemployment. B) aggregate supply and aggregate demand. C) income and the interest rate. D) money supply and money demand.
By 1900, what did the National Banking System under the Bank Act of 1863 (and subsequent amendments) help national banks attain?
(a) A majority of banking establishments (b) A majority of banking assets (c) A monopoly issue of paper money (d) All of the above
Rationing of resources, goods, and services
A. is not required under the price system. B. happens only when the price is zero. C. is required because of scarcity. D. must be done by the government.
The idea that individuals who work for companies should receive ________ is known as minimum wage.
A. compensation based on the riskiness of their jobs B. increases in wages based on the longevity of employment C. fair compensation for their skills D. at least an equitable hourly income