a. recession. b. depression. c. peak. d. trough.
a. recession.
If the money supply is $250 billion and nominal GDP is $1 trillion, the velocity of money is:
a. 0.25. b. 0.40. c. 2.50. d. 4.00.
The equation for the spending multiplier is:
a. 1 / (1 ? MPC). b. 1 ? MPC. c. 1 ? (MPC ? MPS). d. MPC / MPS. e. none of these.
