An example of a flow variable is
a. the number of cars in the United States today
b. the current value of your wealth
c. the population of Mexico
d. income
e. the number of sweaters a clothing store has on its shelves
D
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Keynes's theory of the demand for money is consistent with
A) countercyclical movements in velocity. B) a constant velocity. C) procyclical movements in velocity. D) a relatively stable velocity.
A short-run increase in the price of a firm's output will typically
A) lead to a movement along the firm's demand for labor curve. B) lead to more employment in the competitive firm. C) not impact the hiring of labor. D) make the demand for labor more inelastic.
The branch of economics that studies the economy as a whole is: a. normative economics. b. positive economics
c. microeconomics. d. macroeconomics.
The lowest-income fifth of the U.S. population ordinarily earns about 20 percent of the income.
Answer the following statement true (T) or false (F)