The velocity of money is:
a. the purchasing power of money.
b. the value of a dollar in relation to foreign currency.
c. the average number of times each dollar is spent on final goods and services in a given year.
d. the average length of time it takes for a dollar of income to be spent.
e. the total amount of money that is in circulation for consumption spending.
c
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Is nominal GDP measured in terms of quantity or in terms of dollars? If dollars, the value of the dollar from what period? Is real GDP measured in terms of quantity or in terms of dollars? If dollars, the value of the dollar from what period?
What will be an ideal response?
Answer the following statements true (T) or false (F)
1) The existence of "beaten paths" tends to discourage immigration because of the perception that job prospects have been exhausted. 2) Other things equal, younger workers are more likely to migrate than older workers. 3) Welfare payments to immigrants have steadily increased since 1996. 4) Welfare reform in 1996 reversed the trend of growing welfare payments to immigrants.
In the above figure, if the market produces the efficient amount of purses then producer surplus equals
A) triangle bcd. B) triangle adc. C) rectangle bcde. D) trapezoid adec.
Which of the following statements is not correct about the 1920s?
a. There was an increased use of advertising. b. There was a significant increase in travel and the building of highways. c. There were many innovations in the automobile sector. d. The rapid increases in income reduced the use of credit.