What does the quantity theory of money tell us? That
a. the velocity of money is highly variable
b. the money supply directly affects real GDP
c. the money supply inversely affects velocity
d. real GDP increases as the price level increases
e. P = MV/Q
E
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According to Martha Olney why did blacks buy on installment at almost twice the rate of whites?
a. Installment contracts were formal and could be used legally for repossession while credit agreements could not. b. Blacks did not like to buy things on credit. c. Blacks were more likely than whites to purchase goods that required installment purchases. d. It was easier for blacks, who tended to have lower income than whites, to pay off their debts on a regular schedule that the installment plans offered.
Suppose an economy’s real GDP is $700 billion in year 1 and $718 billion in year 2. What is the growth rate of its GDP?
Please provide the best answer for the statement.