The equation of exchange is an ________ while the quantity theory of money is a theory that ________
A) accounting identity; assumes the money supply is constant
B) accounting identity; assumes velocity is held constant
C) accounting theory; assumes the price level is constant
D) accounting theory; economists use to explain changes in real GDP
B
Economics
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The difference between a bank's assets and liabilities is referred to as:
A) retained earnings. B) gross profits. C) stockholders' equity. D) net profits.
Economics
Which of the following is one of the Five Fundamental Questions?
A. Which products will be in scarce supply and which in excess supply? B. Who should appoint the head of the central bank? C. How much should society save? D. What goods and services will be produced?
Economics