If income is $40 billion, the price level is 10, and the stock of money is $20 billion, what is the velocity of money?
A. 0.8
B. 5
C. 8
D. 20
Answer: D
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Of the 2.2 million working farms in the U.S., _________ of them produce more than $5,000 worth of agricultural products.
A. one quarter B. half C. three quarters D. one third
Bank capital is
A) the current market value of the bank's physical assets. B) the historical or original value of the bank's physical assets. C) the capital contributed by the bank's shareholders plus accumulated retained profits. D) the sum of the value of the bank's assets plus the value of the bank's liabilities.
The supply curve in the graph above is
A. perfectly elastic.
B. relatively elastic.
C. perfectly inelastic.
D. relatively inelastic.
Price competition among firms has proved to be more important than the introduction of new products.
Answer the following statement true (T) or false (F)