According to the sophisticated, or modern quantity theory of money, if there is a depression and M rises,
A. P will rise.
B. P will fall.
C. Q will rise.
D. Q will fall.
C. Q will rise.
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The long-run Phillips curve represents the relationship between the inflation rate and the unemployment rate when there is no ________ unemployment
A) cyclical B) frictional C) seasonal D) structural E) natural
Greg learns how to bake from his grandmother. This is an example of a. human capital, but not technological knowledge
b. technological knowledge, but not human capital. c. both human capital and technological knowledge. d. neither human capital nor technological knowledge.
On the consumption contract curve
A. supply equals demand of both goods. B. there will be no further voluntary exchange. C. all allocations are Pareto optimal. D. All of these are true.
Refer to the graph shown. The equilibrium price for the monopolistically competitive firm represented is:
A. $6. B. $4. C. $10. D. $7.