The difference between the equation of exchange and the quantity theory of money is that the
a. equation of exchange assumes that the level of real GDP is constant.
b. quantity theory of money assumes that the Fed has no control over the money supply.
c. equation of exchange assumes that the level of nominal GDP is constant.
d. quantity theory of money assumes that velocity is virtually constant.
d
Economics
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The unemployment rate is an example of a Federal Reserve
A) tool. B) operating target. C) intermediate target. D) ultimate objective.
Economics
Consider the production possibilities frontier displayed in the figure shown. Which of the following statements is true?
A. Producing at point D would be inefficient. B. Producing at point B would be inefficient. C. Producing at point C would be inefficient. D. Producing at point A would be inefficient.
Economics