If the total money supply is $3 trillion, real GDP is $8 trillion and the price level is 1.5, then the equation of exchange tells us that velocity equals

What is one specific economic situation that a balanced budget amendment would create?

A) It would prevent deficits during peacetime. B) It would curtail inflation. C) It would forbid budget surpluses. D) It would prevent a recession.

The quantity demanded of a product is the amount that buyers are willing and able to purchase at a particular price

a. True b. False Indicate whether the statement is true or false