The equation of exchange can be stated as M = (V x P)/Y

The argument that government action is justified based on the fact that people would agree to be coerced to do the action if everyone else is forced to do the action is essentially an argument based _____

a. upon the transitional gains trap b. on the free rider problem c. on the ideal of the public interest d. prisoners dilemma

In the last twenty-five years, the Yen and German mark and now the Euro have

a. fluctuated widely against the dollar b. appreciated against the dollar and then depreciated against the dollar c. exchanged without restrictions d. all of the above e. none of the above