If Real GDP is $8,000, the money supply is $4,000, and the price level is 3, then velocity is

Consider a demand curve for peaches. Which of the following movements will be observed if the price of peaches decline at a point in time?

a. The demand curve will rotate inward at the given price level. b. The will be a movement up along the demand curve. c. The demand curve will rotate outward at the given price level. d. There will be a downward movement along the demand curve. e. The demand curve will become steeper.

In the circular-flow diagram, which of the following items flows from households to firms through the markets for goods and services?

a. goods and services b. dollars paid to land, labor, and capital c. dollars spent on goods and services d. wages, rent, and profit