Velocity can be defined as:
a. the turnover rate of money
b. the speed at which economic activity takes place.
c. the speed at which multiplier effect takes place.
d. the speed at which tax cuts are spent.
a
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In order for any given commodity to be considered money, it has to
A) be issued and controlled by some governmental institution. B) have some intrinsic value. C) be generally acceptable as a means of payment. D) be used in barter transactions. E) be convertible into gold or silver.
What stage of the business cycle immediately follows the trough?
a. Recession b. Peak c. Depression d. Recovery
If consumption equals 10, investment equals 8, government purchases equal 7, exports equal 5 and imports equal 3, what is the GDP?
a. 11 b. 13 c. 25 d. 27
Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4According to Figure 2.4, a decrease in unemployment may be represented by the movement from
A. B to A. B. C to D. C. B to D. D. A to C.