If an economy produces 1,000 units of output with a price level of $5 and the money supply (M) is $1,000, velocity is:
A. 5.
B. 200.
C. 50.
D. 2.
A. 5.
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A monopoly’s marginal revenue curve is always
a. is always above the demand curve. b. identical to that of a perfectly competitive firm. c. twice as steep as the demand curve. d. none of the above.
In economics, products are considered "differentiated" only if
a. they are physically or chemically different b. sellers decide that they are different c. buyers think that they are different d. the government determines that they are different e. they are produced by different firms
When considering whether to migrate to a particular location, one calculates the present value of living in that location. How does one best calculate the present value of living in a location?
A. Determine the starting wage one will earn in the location. B. Sum up the annual incomes one will earn in the location. C. Subtract one's wage in the new location from the starting wage in the current location. D. Sum the annual discounted incomes one will earn in the location. E. Subtract one's wage in the current location from the starting wage in the new location.
The economy pictured in the figure below has a(n) ________ gap with a short-run equilibrium combination of inflation and output indicated by point ________. 
A. recessionary; B B. recessionary; C C. recessionary; A D. expansionary; A