The velocity of money is:
a. money supply divided by prices.
b. spending divided by output.
c. required monetary reserves divided by income.
d. GDP divided by the money supply.
d
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An export subsidy helps reduce the selling price of a product by allowing individual producers to charge less and still cover all of their production costs
a. True b. False Indicate whether the statement is true or false
If official U.S. poverty statistics included in-kind transfer payments the:
A. poverty rate would be close to zero. B. poverty rate would be lower. C. government deficit would be lower. D. top 10 percent of those in the income distribution would be wealthier.
Which of the following is not an obstacle to development?
A. Overpopulation B. Excessive investment C. Political instability D. Corruption
Suppose that in a month the price of a cup of coffee increases from $1 to $1.50. At the same time, the quantity of cups of coffee demanded decreases from 200 to 190. The price elasticity of demand for cups of coffee (calculated using the midpoint formula) is approximately:
A. 0.13. B. 0.5. C. 7.8. D. 20.