Which of the following equations represents the equation of exchange?
A) PM = VY
B) MY = PV
C) MV = PY
D) M = VP/Y
C
You might also like to view...
Countries with the
A) biggest deflations and output contractions are countries which were never on the gold standard until 1936. B) biggest inflations and output contractions are countries which were on the gold standard until 1936. C) lowest deflations and output contractions are countries which were on the gold standard until 1936. D) biggest deflations and output increases are countries which were on the gold standard until 1936. E) biggest deflations and output contractions are countries which stayed on the gold standard until 1936.
In reality, a manger ________ be able to maximize the firm's profit period to period due to ________ changes to a firm's demand and/or cost.
A) will; known B) will not; random C) will not; known D) will; random
Suppose the official gold value of the Brazilian real changes from 527 reals per ounce to 508 reals per ounce. We can then say that:
a. the Brazilian real has depreciated in value as a consequence of free market fluctuations. b. the Brazilian real has appreciated in value. c. gold is now more expensive to purchase in Brazil than it was before. d. the Brazilian real has been devalued. e. the Brazilian economy is expected to experience rapid inflation.
The president is told that an inflationary gap must be closed but that consumers are increasing their spending on consumption and producers increasing their demand for investment goods. If the gap is to be closed, the President must
a. rely on reducing the price level b. resort to creating a deficit budget c. increase aggregate demand d. rely on increasing the price level e. resort to creating a surplus budget