If nominal GDP is 2700 and the money supply is 900, what is velocity?

Measured in BTUs per dollar of real GDP, energy consumption fell by only 5 percent between 1970 and 1975, but had fallen by almost 30 percent by 1990 . These figures illustrate the fact that

a. energy demand does not respond to price changes in the short run. b. energy demand does not respond to price changes in the long run. c. energy demand is more elastic in the short run than in the long run. d. energy demand is more elastic in the long run than in the short run.

Christine is an artist who creates custom cookie jars. Her annual revenue from selling the cookie jars is $90,000 . The annual explicit costs of the materials used to make the cookie jars are $54,000 . Christine used $5,000 from her personal savings account to buy pottery tools for her business. The savings account paid 1% annual interest. What is Christine's annual opportunity cost of the

financial capital that she invested in her business? a. $5 b. $50 c. $100 d. $200