If nominal gross domestic product is $3,600 billion and the money supply is $900 billion, the velocity of money is _____

Individuals who specialize in activities that lower transaction costs are

A) consumers. B) producers. C) bureaucrats. D) middlemen.

The firm will shut down in the short run if

A) the price falls below its minimum AVC. B) the market price rises unexpectedly. C) P = MC. D) P = ATC at its minimum.