The quantity theory of money was derived from the quantity equation by asserting that
A) real output was fixed. B) the money supply was fixed.
C) the velocity of money was zero. D) the velocity of money was fixed.
D
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Japan has a single-payer health care system in which the government provides national health insurance to all Japanese residents
Indicate whether the statement is true or false
A budget ________ occurs when government expenditures exceed tax revenues for a particular time period
A) deficit B) surplus C) surge D) surfeit
Explain how a specific tax equal to the marginal harm of pollution can increase or decrease total welfare in a monopoly market
What will be an ideal response?
Your neighbor in an apartment complex plays his music very loudly late at night, which makes it difficult for you to get to sleep
You offer the neighbor $50, the monetary value you put on your sleep, to never play his music between midnight and 7 AM. By doing so A) you have failed to bring about an efficient solution since you should have complained to the police. B) you have indicated the cost of the externality. The externality is not internalized even if he accepts your offer. C) you have indicated the cost of the externality, which internalizes the externality. D) you have indicated a willingness to make the external cost a social cost.