If the quantity of money is $6 billion and nominal GDP is $9 billion, the velocity of circulation is

Suppose you plan to go to school this summer. The cost of tuition and textbooks is $1,400 and housing, board, and entertainment will cost you $500

If you didn't go to school, you'd live in your parents' house for free, but your other living expenses would be about the same. Also, if you didn't go to school you'd work full time and could earn $8,000. You can still work part time while attending the summer school, but you will earn only $3,000. a) What will the summer school cost you in terms of money explicitly paid? b) What are the opportunity costs of going to summer school that you don't pay explicitly? Explain. c) What is your total opportunity costs of going to school this summer? Explain your answer.

Because of diminishing marginal productivity

A) the labor supply curve is not vertical. B) nominal wages are sticky in a downward direction. C) the labor demand curve is negatively sloped. D) households save only a small share of their income.