From the equation of exchange, if both nominal income and the quantity of money (M) have doubled, while the price level (P) has decreased by 50 percent and velocity (V) remains constant, then real output (Y) ________
A) also doubles
B) triples
C) quadruples
D) decreases by 50 percent
E) none of the above
C
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To be unemployed is to be
A) without a job, but actively looking for a job. B) without any source of income. C) without an identity. D) all of the above.
In the 1980s, 1990s, and 2000s, the United States has had a
A) small trade surplus. B) small trade deficit. C) large trade deficit. D) large trade surplus.
Suppose new electronic devices make it easier to monitor the effort levels of workers. If some shirking is still possible in the efficiency wage model, what happens to the level of employment?
A) Increases, but some unemployment remains B) Increases, and the labor market reaches full employment C) Decreases D) Does not change
Other things the same, a decrease in the real interest rate
a. increases the quantity of loanable funds demanded. b. shifts the demand for loanable funds curve to the right. c. decreases the quantity of loanable funds demanded. d. shifts the demand for loanable funds curve to the left.