The simple quantity theory of money can be written as
A) P = MV/Q.
B) MV = Q/P.
C) PM = VQ.
D) Q = PMV.
E) all of the above
A
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A technological change ________ and a change in the capital stock ________
A) shifts the productivity curve; shifts the productivity curve B) shifts the productivity curve; creates a movement along the productivity curve C) creates a movement along the productivity curve; shifts the productivity curve D) does not change the productivity curve; creates a movement along the productivity curve E) does not change the productivity curve; shifts the productivity curve
Hold the prices of goods, as well as Amy's preferences, constant. If Amy's income increases, then
a. both her indifference curves and budget constraint change. b. her indifference curves change, but her budget constraint does not change. c. her budget constraint changes, but her indifference curves do not change. d. neither her indifference curves nor her budget constraint change.
Prisoners sometimes determine a single good to be used as money. This good becomes
a. a medium of exchange and a unit of account. b. a medium of exchange, but not a unit of account. c. a unit of account, but not a medium of exchange. d. neither a unit of account nor a medium of exchange.
Exhibit 12-2 Lorenz curve
As shown in Exhibit 12-2, the perfect equality line is drawn between points:
A. A and B. B. B and D. C. A and C along the straight line. D. A and C along the curve.