If M increases faster than V decreases:
a. nominal GDP increases
b. nominal GDP decreases.
c. nominal GDP stays the same.
d. there is an indeterminate effect on nominal GDP.
a
Economics
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When the price of a commodity rises, we can expect
A. marginal utility of the last unit purchased will rise. B. marginal utility of the last unit purchased will fall. C. marginal utility of the last unit purchased will be unaffected. D. purchases to rise because of the increased marginal utility.
Economics
Figure 34-9
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In Figure 34-9, Pestoland exports pasta to Pastaland. The equilibrium price of pasta will be
A. OC. B. OJ. C. OA. D. OK.
Economics