According to the quantity theory of money, inflation is attributable to increases in:
A. the money supply in excess of increases in real GDP.
B. velocity in excess of increases in real GDP.
C. real GDP.
D. velocity.
Answer: A
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As illustrated in the above figure, after 60 gallons are produced each hour at Ike's Ice Cream Kitchen, the ATC curve starts to slope upward. The ATC starts to slope upward because the
A) MC curve slopes upward. B) MC exceeds the ATC. C) distance between the ATC and the AVC curve is shrinking. D) None of the above answers is correct.
Bill is an accountant for a small machine shop. His boss has asked him to calculate the shop's total fixed cost. Which method will get Bill the correct answer?
a. c and d. b. Calculating the product of average total cost and quantity c. Determining what the shop would pay for if they produced zero output d. Subtracting the total variable costs from the total costs e. Subtracting total variable costs from total revenue
If the economy has just experienced a severe recession, which type of Fed policymaker would be more focused on a quick recovery?
A) Doves B) Hawks C) Both doves and hawks D) Neither doves nor hawks
The public debt is the sum of all of the previous
A. expenditures of the federal government. B. budget deficits of the federal government. C. budget deficits less the budget surpluses of the federal government. D. budget surpluses less the budget deficits of the federal government.