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Author Question: If velocity is equal to 6, and the quantity of money is 50 billion, according to the equation of ... (Read 58 times)

casperchen82

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on: Jun 29, 2018
If velocity is equal to 6, and the quantity of money is 50 billion, according to the equation of exchange, nominal GDP is equal to
 
  A) 300 billion. B) 150 billion. C) 18 billion. D) 8.3 billion. E) 56 billion.

Question 2

Consider the market for wheat. If there is an improvement in harvesting technology,
 
  A) the demand curve for wheat shifts rightward.
  B) the demand curve for wheat shifts leftward.
  C) there is a movement up along the demand curve.
  D) the supply curve for wheat shifts rightward.
  E) the equilibrium price rises.
Foundations of Microeconomics ¦ Bade, Parkin ¦ 8th Edition
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krakiolit

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

A

Answer to Question 2

D


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