The average number of times in a year each dollar is used to buy goods and service is called
A) rate of circulation speed.
B) circulation rate.
C) velocity of circulation.
D) nominal GDP.
E) inflation.
C
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Empirical studies have shown that in most situations people are:
A) risk-averse. B) risk-neutral. C) risk-loving. D) either risk-neutral or risk-loving but not risk-averse.
In April, market analysts predict that the price of titanium will fall in May. What happens in the titanium market in April, holding everything else constant?
A) The quantity demanded and the quantity supplied increase. B) The supply curve shifts to the right. C) The supply curve shifts to the left. D) The demand curve shifts to the right.
With regard to the Navigation Acts (1651 and later amendments), all of the following answers are true except
(a) No commodities originating from the Empire were to be shipped in any but British (including colonial) ships. (b) No commodities imported into the Empire were to be carried in any but British ships. (c) Only British subjects were allowed to be merchants in the colonies, and only British ships were to carry commodities from one English port to another. (d) There is no "except"; all of the above answers are true.
If the free-rider problem affects political advocacy, the result may be that the:
A. best ideas will always win because those supporters value the outcome the most. B. irrelevant alternatives are eliminated from the options, increasing the efficiency of the vote. C. best ideas will always win because free-riders are not typically supporters of relevant alternatives. D. best ideas might not win out if lots of people fail to lend their support.