The current cost of a market basket of goods is $9,000 . The cost of the same basket of goods in the base year was $3,000 . The current price index is:

If nominal GDP is $5 trillion and velocity is 20, then

A) actual money balances held by the nonbanking public are $250 billion. B) actual money balances held by the nonbanking public are $100 trillion. C) real GDP equals $100 trillion. D) real GDP equals $400 trillion.

Which of the following is not likely to result from an increase in the federal minimum wage?

a. an increase in the quantity of low-skill labor supplied b. a decrease in the quantity of low-skill labor demanded c. a decrease in teenage unemployment d. an increase in teenage unemployment