According to the quantity theory of money, the quantity of money determines the
a. interest rate.
b. level of real output.
c. price level.
d. level of employment.
C
You might also like to view...
Describe the chain of events leading to exchange rate determination for the following cases:
(a) An increase in U.S. money supply (d) Increase in growth rate of U.S. money supply (c) Increase in world relative demand for U.S products (d) Increase in relative U.S. output supply
The above figure depicts a short-run production function for Albert's Pretzels. The marginal productivity of labor
A) rises then falls as the amount of capital increases. B) falls then rises as the amount of labor increases. C) is greater than or equal to the average productivity of labor for all amounts of labor. D) is less than or equal to the average productivity of labor for all amounts of labor.
Another name for plurality voting is:
A. instant runoff voting. B. first-past-the-post voting. C. pair-wise majority voting. D. approval voting.
The government can increase aggregate demand to combat unemployment and decrease aggregate demand to combat inflation
Indicate whether the statement is true or false