Suppose the nominal gross domestic product of a nation is $1,000 and the money supply is $500 . According to the equation of exchange, the velocity of money in the nation is:
a. 1,000

If the price level increases, but workers' money wage rates remain constant,which of the following is TRUE?

I. The quantity of labor demanded will increase. II. The real wage rate will decrease. III. The demand for labor curve shifts rightward. A) I only B) I and II C) II and III D) I, II and III

The study of the aggregate economic variables is

A) macroeconomics. B) microeconomics. C) positive economics. D) normative economics.