Which fundamental economic question requires society to choose the technological and resource mix used to produce goods?

You can think of velocity as:

A. how much output money can buy. B. how quickly prices are rising. C. how often money changes hands. D. the ratio of the money supply to the inflation rate.

The government budget deficit tends to decline during the expansion phase of a business cycle because tax revenues ________ and government transfer payments ________.

A) increase; increase B) decrease; decrease C) decrease; increase D) increase; decrease