The velocity of circulation is
A) the relationship between income and spending.
B) the relationship between increases in income and investment.
C) the ratio of currency to demand deposits.
D) the average number of times per year a dollar is spent on goods and services in GDP.
D
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Clothing retailers have faced greater competition in recent years as more firms have entered the clothing market. Some of the competition has come from foreign competitors, but much of it is domestic competition
As a result there is much competition in markets for many types of clothing and A) individual buyers and sellers cannot affect the market price because it is determined by the market forces of demand and supply. B) there are no other implications. C) firms have a great degree of flexibility in pricing their products because these products can be sold at a high profit level. D) there are relatively few buyers and sellers in the market, and one individual firm can determine the market price.
Which of the following is NOT an official reserve asset for the United States?
A) Monetary gold B) British pounds C) SDRs from the IMF D) Mexican pesos