The velocity of money is
A) independent of M, P, and Y.
B) independent of M and Y.
C) calculated from M, P, and Y.
D) calculated from M and Y.
Ans: C) calculated from M, P, and Y.
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The Plaza Accord of 1985 announces that the
A) G-5 countries will intervene in the foreign exchange market to bring about a dollar appreciation. B) G-7 countries will intervene in the foreign exchange market to bring about a dollar depreciation. C) G-5 countries will intervene in the foreign exchange market to bring about a dollar depreciation. D) G-7 countries will intervene in the foreign exchange market to bring about a DM depreciation. E) G-5 countries will not intervene in the foreign exchange market unless the dollar needs to appreciate.
What effect does the existence of discouraged workers have on the ability of the official unemployment rate to provide accurate information about the extent to which labor is employed?
What will be an ideal response?
________ is (are) protected by barriers to entry, specifically ________.
A. Cable companies; patents B. DeBeers Company; economies of scale C. State lotteries; government rules D. All of the above are correct.
Which of the following statements is true?
A) GDP growth distributes income equally to people in the economy. B) GDP accounting rules do not adjust for production that pollutes the economy. C) A decrease in the crime rate increases GDP as people will spend more on security. D) Household production is counted in GDP as it amounts to real production.