In the equation of exchange, GDP divided by the money supply is equal to
A) M.
B) V.
C) P.
D) Q.
B
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When people use all the relevant data and principles of economics to forecast inflation, they are making
A) what is called a "data-based forecast." B) an always accurate forecast. C) a mistake. D) what is called a "rational expectation." E) an exaggerated forecast.
It is possible for the dollar to appreciate against the Japanese yen while depreciating against the British pound
a. True b. False Indicate whether the statement is true or false
Taking into consideration indirect stock ownership in the United States, we can conclude that
a. stock ownership is on the decline b. the majority of the population are stockholders c. all businesses are in fact corporations d. too much cheating is going on in the stock market e. we should change the laws so that pension funds can buy stocks
Which of the following statements about gross domestic product and gross national product is true?
a. Gross domestic product includes income payments to foreigners for their work domestically; gross national product does not. b. Gross domestic product includes the income earned abroad by domestic citizens; gross national product does not. c. Gross domestic product includes exports; gross national product does not. d. GDP and GNP are equal.