The velocity of money can best be described as
A) how quickly prices are increasing.
B) how quickly output is increasing.
C) the number of times each dollar in the money supply is used to buy goods and services included in GDP.
D) the growth rate of the money supply.
C
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In what ways do economists and policymakers who believe that market-based reforms are the key to improving the health care system criticize the Patient Protection and Affordable Care Act (ACA)?
What will be an ideal response?
When new firms are encouraged to enter a monopolistically competitive market
A) some existing firms must be earning economic profits. B) the demand curve facing an existing firm shifts to the right. C) they do so because there is insufficient product differentiation. D) the marginal cost curve facing an existing firm shifts downwards.