If real GDP is $4 billion, the price level is 1.25, and the nominal money stock is $500 million, then velocity is

For most of the years since 1981, the United States has had

A) a current account deficit. B) a large official settlements balance. C) an official settlements account deficit. D) a capital and financial account deficit. E) balanced trade.

If the price of a pumpkin rises and consumers' total expenditure on pumpkins increases, then the demand for pumpkins is inelastic

Indicate whether the statement is true or false