A firm should never produce any output if

If the total money supply is $3 trillion, real GDP is $8 trillion and the price level is 1.5, then the equation of exchange tells us that velocity equals

A) 16. B) 3. C) 0.25. D) 4.

For U.S. workers in tradable sectors such as manufacturing, the effect of globalization has been:

A. to reduce unemployment in this group while leaving wage rates about the same. B. to push wages down or leave them unemployed. C. to cause greater upward mobility for those workers while reducing downward mobility. D. to push wages up relative to those in nontradable sectors such as government or service workers.