You can think of velocity as:
A. how much output money can buy.
B. how quickly prices are rising.
C. how often money changes hands.
D. the ratio of the money supply to the inflation rate.
Ans: C. how often money changes hands.
Economics
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A doctor charges two different prices for medical services, and the price level depends on the patients' income such that wealthy patients are charged more than poorer ones. This pricing scheme represents a form of
A) first-degree price discrimination. B) second-degree price discrimination. C) third-degree price discrimination. D) pricing at each consumer's reservation price.
Economics
In the simplified circular flow diagram, leakage can occur when consumers save some income
a. True b. False Indicate whether the statement is true or false
Economics