According to the simple quantity theory of money, a change in the money supply of 9.6 percent would lead to a
a. 9.6 percent change in velocity.
b. 9.6 percent change in real GDP.
c. 9.6 percent change in nominal GDP.
d. 9.6 percent change in aggregate supply.
c
Economics
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When the price of a normal good falls, the substitution effect leads to ________ in the quantity purchased and the income effect leads to ________ in the quantity purchased
A) an increase; an increase B) an increase; a decrease C) a decrease; an increase D) a decrease; a decrease
Economics
A monopolist, unlike a perfect competitor, has total control in its market because it is the single producer. Why, then, must a single-price monopolist decrease its price if it wants to increase its output?
What will be an ideal response?
Economics