The equation of exchange states that the quantity of money multiplied by the velocity of money equals:
a. real Gross Domestic Product

How is the international economy qualitatively different in the first part of the twenty-first century from what it was like in the first part of the twentieth century?

What will be an ideal response?

Between 1945 and 1950, federal expenditures

(a) dropped by two-fifths despite the Marshall Plan. (b) dropped by two-fifths because of dissipation of wartime expenditures. (c) increased by two-fifths because of increased spending in private consumer and business markets. (d) increased by two-fifths because of the Marshall Plan.