Keynesians argue that velocity is
A) equal to the inflation rate.
B) equal to one.
C) negative.
D) unpredictable.
D
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Use the following diagram of the market for product X to answer the question below.
Curve St embodies all costs (including externalities) and Dt embodies all benefits (including externalities) associated with the production and consumption of X. Assuming the market equilibrium output is Q1, we can conclude that the existence of external
A. costs has resulted in an overallocation of resources to X. B. benefits has resulted in an underallocation of resources to X. C. costs has resulted in an underallocation of resources to X. D. benefits has resulted in an overallocation of resources to X.
According to the mercantilists, colonies were supposed to export ________ and import ________ from _______
a. manufactured products, raw materials, the mother country. b. raw materials, manufactured products, countries outside the empire. c. manufactured products, raw materials, countries outside the empire. d. raw materials, manufactured products, the mother country.
Since the Federal Reserve was established in 1913, the U.S. has experienced three periods of high inflation and each was preceded and accompanied by a period of sharp decline in the money supply
a. True b. False Indicate whether the statement is true or false
Supply shocks:
A. occur more frequently than demand shocks. B. usually result from fiscal and monetary policy changes. C. occur when sellers face unexpected changes in the availability and/or prices of key inputs. D. have been responsible for most of the recessions in the United States since World War II.