If real GDP grows by 3 percent, the velocity of circulation grows by -4 percent, and the quantity of money grows by 3 percent, then in the long run the inflation rate is
A) 1 percent. B) -1 percent. C) 4 percent. D) -4 percent. E) 10 percent.
D
Economics
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When oligopolistic firms in an industry form a cartel, then it is most likely that
A) both industry output and prices will increase. B) both industry output and prices will decrease. C) industry output will increase while prices will decrease. D) industry output will decrease while prices will increase.
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While a focus on quality can lead to business success, its development is not free
Indicate whether the statement is true or false
Economics