If the nominal GDP is $16.2 trillion and money supply is $1.9 trillion, then the velocity is
a. 0.12.
b. 16.2.
c. 8.5.
d. 1.9.
c. 8.5.
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If price goes up 20 percent and quantity demanded declines by 10 percent, total revenue will rise.
Answer the following statement true (T) or false (F)
Which of the following factors cause the IS curve to shift?
a. A change the money supply. b. A change in the level of taxes c. An autonomous investment change that shifts the investment function d. Both b and c e. All of the above
Given the data in the above table, the marginal revenue curve
A) lies below the demand curve. B) lies above the demand curve. C) intersects the demand curve. D) is equal to the demand curve.
The short-run equilibrium price level and real GDP is derived where the short-run aggregate supply (SRAS) curve intersects the long-run aggregate supply (LRAS) curve
Indicate whether the statement is true or false