If the money supply is $1,000 . the price level is 3, and real income (or output) is $5,000 . then the velocity of money is _____

A payment that is made by the government for which no goods or services are given in return is known as

A) a public good. B) a transfer payment. C) a negative externality. D) a free rider.

If the tax on a good is increased from $1 per unit to $4 per unit, the deadweight loss from the tax increases by a factor of

a. 5. b. 9. c. 16. d. 24.