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Author Question: The equation of exchange states that the price level is equal to A) the quantity of money. B) ... (Read 52 times)

Jramos095

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on: Jun 29, 2018
The equation of exchange states that the price level is equal to
 
  A) the quantity of money.
  B) velocity of circulation multiplied by the quantity of money divided by real GDP.
  C) real GDP multiplied by the velocity of circulation divided by nominal GDP.
  D) the velocity of circulation.

Question 2

Archibald's Tattoos is a perfectly competitive firm. The firm's costs are shown in the table above. If the market price of a tattoo is 17.50 what is the firm's profit-maximizing output?
 
  A) 2 tattoos per hour
  B) 3 tattoos per hour
  C) 4 tattoos per hour
  D) 5 tattoos per hour


macagnavarro

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Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

B


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