According to the monetarists, the velocity of money is
A. constant by definition.
B. highly variable and unpredictable.
C. constant as a matter of empirical proof.
D. not constant but predictable.
Answer: D
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If basic literacy promotes a consistency of individual and social goals
a. social returns exceed private returns b. private returns exceed social returns c. the individual's income will rise d. people should pay the full cost of their education e. costs of education will be low
Hospitals announce that there are not enough nurses available to keep them fully staffed. Economically speaking, what does this announcement mean?
A) The market wage for trained nurses is currently above the equilibrium wage. B) There is currently a surplus of nurses in this market. C) The market wage for nurses will eventually rise to the market clearing wage. D) The market will adjust very rapidly to correct this imbalance because anyone can be a nurse without any training.