The number of times per year that a dollar is spent on final goods and services defines
A. GDP.
B. the income velocity of money.
C. the money supply.
D. the price index.
Answer: B
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A method of analyzing the strategic interaction that occurs between small numbers of people, firms, organizations, or countries is called
A) clinical observation. B) microdemographics. C) forensic economics. D) game theory.
Discuss the production function. How does the production function relate to the labor market and potential GDP?
What will be an ideal response?
Refer to Figure 9-3. What is the area of consumer surplus after the imposition of the quota?
A) A B) G + H C) A + G + H D) G + H + E + I+ J + M
Holding other things constant, an appreciation of the US Dollar to the Chinese Yuan might cause the demand for Yuan to _____________ and the supply for Yuan to __________
a. Increase; decrease b. Increase, increase c. Decrease; Increase d. Decrease; Decrease