The equation of exchange states that
a. money supply multiplied by real output equals velocity.
b. velocity multiplied by money supply equals real output times the price level.
c. money supply divided by velocity equals nominal GDP.
d. money supply divided by velocity equals real GDP.
B
Economics
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Economics can be defined as the social science that explains the ________
A) choices made by politicians B) choices we make when we trade in markets C) choices that we make as we cope with scarcity D) choices made by households
Economics
In this graph for negative externalities in production, the supply curve for SPrivate ______.
a. is to the right of SSocial
b. is to the left of SSocial
c. intersects the demand curve at efficient output
d. intersects Q2 at market equilibrium
Economics