The rules-based monetary policy reads: The annual growth rate in the money supply will be equal to the average annual growth rate in Real GDP minus the growth rate in velocity. If the average growth rate in Real GDP this year is 3 percent and the growth rate in velocity is 2 percent, then the money supply will increase by ______________ percent this year

Which of the following would be considered an implicit cost of operating a business?

A) interest payments on a loan B) Social Security contributions for employees C) the resale value of delivery vans the company owns and uses for its deliveries D) shipping expenses

Private goods are goods

A) that carry a price. B) for which price is greater than zero. C) for which the more one person has the less is available for someone else. D) that are produced by the government.