If the velocity of the M1 money supply is 4 and nominal GDP is $200 billion, the stock of money in circulation must be:

An increase in income equality causes the Lorenz curve to become more bowed away from the line of equality

Indicate whether the statement is true or false

The law of diminishing returns is a result of the fact that more and more units of a variable input are being added to a fixed input

Because of the limitations imposed by the fixed input, at some point the productivity of additional units of the variable input must decline. Indicate whether the statement is true or false