Monetarists accept the idea that velocity is not constant; nonetheless, they believe that it is still highly
a. unpredictable, well-behaved, and independent of money supply
b. unpredictable, ill-behaved, and independent of money supply
c. unpredictable, well-behaved, and dependent of money supply
d. predictable, well-behaved, and independent of money supply
e. predictable, well-behaved, and dependent of money supply
D
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A classical economist believes that
A) if the economy was left alone, it would rarely operate at full employment. B) the economy is self-regulating and always at full employment. C) the economy is self-regulating and will normally, though not always, operate at full employment if monetary policy is not erratic. D) the economy is self-regulating and will normally, though not always, operate at full employment if fiscal policy is not erratic.
Trisha believes the production of a dress requires 4 labor hours and 2 machine hours to produce. If Trisha decides to operate in the short run, she must spend $500 to lease her business space
Also, a labor hour costs $15 and a machine hour costs $35. What is Trisha's cost of production as a function of dresses produced?