Author Question: The equation of exchange states that the quantity of money A) multiplied by the velocity of ... (Read 55 times)

arivle123 · **on:** Jun 29, 2018

The equation of exchange states that the quantity of money

A) multiplied by the velocity of circulation equals nominal GDP.
B) divided by price level equals real GDP.
C) multiplied by nominal GDP equals the price level.
D) divided by nominal GDP equals real GDP.

Question 2

According to www.oecd.org, the United States spends a larger portion of expenditures on higher education compared to any other country. Increasing the amount of higher education produces

I. rightward shifts in the U.S. long-run aggregate supply curve.
II. movements up along the U.S. aggregate demand curve.
III. increases in U.S. human capital.
A) I and III only
B) I, II and III
C) II and III only
D) III only