When comparing the velocity of M2 (V2), with the velocity of M1 (V1), the evidence shows that V2 has been __________ and V1 has been __________ over time
A) relatively stable; relatively stable
B) relatively stable; relatively unstable
C) relatively unstable; relatively stable
D) relatively unstable; relatively unstable
B
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If the consumption function is expressed as C = a + mpc × YD, then "a" represents
A) autonomous consumer expenditure. B) the marginal propensity to consume. C) the expenditure multiplier. D) disposable income.
Refer to Scenario 5.2. Which of the following is true?
A) Randy has a higher expected expense than Samantha for the car. B) Randy has a lower expected expense than Samantha for the car. C) Randy and Samantha have the same expected expense for the car, and it is somewhat less than $20,000. D) Randy and Samantha have the same expected expense for the car: $20,000. E) It is not possible to calculate the expected expense for the car until the true probabilities are known.