Suppose real money demand is 1000, real output is 6000, and the price level is 200. What is the level of velocity in this economy?

Which of the following four elements contribute to GDP in the expenditure approach?

a. Consumption spending, private investment, government purchases, net exports b. Consumption spending, business investment, government purchases, imports c. Consumption of services, private investment, government consumption, exports d. Consumption of goods, private investment, government investment, government consumption e. Consumption of durable goods, private investment, government purchases, net exports

To eliminate an inflationary gap, the aggregate demand curve should

a. shift outward. b. become vertical. c. become horizontal. d. shift inward.