Data confirms that the quantity theory of money:
A) holds only in the short run.
B) holds in the long run.
C) holds both in the long run and the short run.
D) does not hold either in the short run or in the long run.
B
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When decision rights are decentralized, typically
a. decisions are being moved to those with less of the relevant information b. decisions are being moved to those with stronger incentives to make good decisions c. decisions are being moved away from those with more of the relevant information d. decisions are being moved to those with weaker incentives to make good decisions
As output increases, total variable cost:
A. increases more rapidly than does total cost. B. increases continuously at a decreasing rate. C. increases at a decreasing rate and then at an increasing rate. D. increases at a constant rate.