If real GDP grows by 3 percent, the velocity of circulation does not change, and the quantity of money grows by 3 percent, then in the long run the inflation rate is
A) 0 percent. B) 6 percent. C) -3 percent. D) -6 percent. E) 3 percent.
A
Economics
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The demand for food in poor countries is
A) inelastic and more inelastic than in rich countries. B) inelastic but more elastic than in rich countries. C) elastic but less elastic than in rich countries. D) elastic and more elastic than in rich countries.
Economics
With respect to the demand side, the classical model excludes
a. exogenous changes in investment b. exogenous changes in government spending. c. exogenous changes in taxes. d. exogenous changes in money demand. e. All of the above
Economics