Outline the elements of an IMF stabilization package. Explain the mechanism by which it is expected to help a balance of payments deficit. How successful have these packages been? Explain your answer

Using the aggregate expenditure model, the equilibrium level of the aggregate expenditure can occur when the economy is producing

A) only at above full employment. B) at full employment, above full employment, or below full employment. C) at either below full employment or at full employment but never at above full employment. D) only at below full employment. E) only at full employment.

Using the quantity equation, the demand for money can be expressed as

A) M=(V x Y)÷P. B) M =(P x Y)÷V. C) M = (P x V) ÷ Y. D) M x V=(1/P)V x Y.