The "V" in the equation of exchange MsV = PY refers to
A) the velocity of inflation. B) a variable.
C) income velocity of money. D) a vector that links P to Y.
C
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The rate of unemployment is calculated as the number of
A) people in the civilian labor force divided by the number of unemployed. B) employed workers divided by the number of unemployed workers. C) unemployed divided by the number of people in the civilian labor force. D) unemployed workers divided by the number of employed workers.
Bill owns a lawn-care company in Windermere, Florida, whose cost curves are illustrated in the above figure. The market equilibrium price in this perfectly competitive market equals $32 per lawn mowed
At this price, how many lawns will Bill mow per week? A) more than 10 and less than 30 B) 30 C) 40 D) 50 E) 0
In Maslow's Hierarchy of Needs, what is the level that is least likely to be achieved?
a. Physiological b. Safety and security c. Belongingness d. Self-actualization
Marginal resource cost is defined as the
a. additional cost of producing an additional unit of output b. change in resource employment required to increase the units of output produced c. ratio of marginal revenue product to the market price of the output sold d. additional cost of employing one additional unit of a resource e. ratio of the change in total resource usage to the change in total resource cost