The equation of exchange is expressed as:
A. MV = PQ.
B. MR = PQ.
C. MPP = P.
D. MR = MC.
Answer: A
Economics
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Refer to the diagram for the federal funds market. The equilibrium federal funds rate:
A. depends on the supply of federal funds (reserves).
B. is 3.0 percent.
C. is 3.5 percent.
D. is 4.0 percent.
Economics
Refer to the below graph of a hypothetical market for health care. The efficiency loss caused by the provision of health insurance covering four-fifths of the cost is:
A. $3,000
B. $6,000
C. $12,000
D. $24,000
Economics