If the price level P equals 1.50, GDP is $6,000 billion, and the stock of money is $900 billion, the velocity of circulation of money is about
A. 3.
B. 9.
C. 5.
D. 10.
D. 10.
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Which of the following is not one of the three major credit bureaus in the U.S.?
a. Equifax b. Experian c. American Express d. Trans Union
Your local grocery store offers a coupon that reduces the price of milk during the coming week. The regular retail price of milk in the store is $3.00 per gallon, and the coupon price is $2.00 per gallon for the next week
If the store maximizes profits and the price elasticity of demand for milk is -2 for coupon users, what is the price elasticity of demand for non-users? A) -0.67 B) -1.0 C) -1.5 D) We do not have enough information to answer the question.
Over the period 1900-2014, Brazil’s rate of economic growth exceeded that of China.
Indicate whether the statement is true or false.
Which of the following best characterizes the tradeoff faced by a monopolist when deciding what quantity to produce?
A. The firm can increase its output, but needs to lower its price for only the marginal unit of output. B. The firm can increase its output, but to do so it must charge a higher price to all customers. C. The firm gets more revenue from new customers by increasing output, but gets less revenue from existing customers given that it lowered its price. D. The firm gets less revenue from new customers by increasing output, but gets more revenue from existing customers given that it lowered its price.