The quantity equation states that the
A) money supply times the velocity of money equals the price level times real output.
B) money supply times the price level equals real output divided by the velocity of money.
C) money supply divided by the velocity of money equals the price level divided by real output.
D) money supply times the price level equals real output times the velocity of money.
A
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Refer to Figure 5-10. What is the value of the net gain to society as a result of subsidizing chicken pox vaccinations?
A) value equal to the area of FEG B) (PE × QE) C) value equal to the area of QFFGQE D) (PF × QF)
With respect to CO2 emissions, low-income countries
a. do not contribute to the problem b. can expect to have "dirtier" industries as they develop c. contribute more per dollar of output than high-income countries d. will have to sacrifice output in order to reduce emissions e. none of the above
Based on Table 3.1, if the world price of computers is four pairs of shoes, then the optimal strategy for each country would be
A) to specialize in shoes. B) to specialize in computers. C) for Mexico to specialize in shoes, and the United States in computers. D) for the United States to specialize in shoes, and Mexico in computers. E) None of the above.
Which of the following is not an institution used by government to secure rights?
a. The police. b. The military. c. The courts. d. The copyright office.