If the money supply is $350 and PQ is $1,400, according to the quantity theory of money, the velocity of money is

The short-run aggregate supply curve is upward-sloping because: a. the quantity of real output supplied is inversely related to aggregate supply

b. nominal incomes are fixed. c. of the conjunction between the incremental capital-output ratio and the interbank offer rate. d. an increase in price will increase the supply of money.

When the U.S. government is in debt during a given year, it follows that its budget is in deficit for that year

a. True b. False Indicate whether the statement is true or false