If real GDP grows by 3 percent, the velocity of circulation grows by 4 percent, and the quantity of money grows by 3 percent, then in the long run the inflation rate is

Which is the most likely reason why more young people from low-income regions are more likely to join the military, compared to those in high income regions?

A) They are more easily pressured by recruitment officers. B) Their opportunity costs are relatively lower. C) They are more patriotic than their richer counterparts. D) They are, to put it bluntly, more foolish than their richer counterparts.

When price is above the equilibrium level, competitive price cutting will continue as long as quantity supplied exceeds quantity demanded

a. True b. False Indicate whether the statement is true or false