Author Question: The velocity of money is: a. the purchasing power of money. b. the value of a dollar in relation ... (Read 31 times)

kodithompson · **on:** Jun 30, 2018

The velocity of money is:
a. the purchasing power of money.
b. the value of a dollar in relation to foreign currency.
c. the average number of times each dollar is spent on final goods and services in a given year.
d. the average length of time it takes for a dollar of income to be spent.
e. the total amount of money that is in circulation for consumption spending.

Question 2

Whenever there is a shortage at a particular price, the quantity sold at that price will equal:
a. the quantity demanded at that price.
b. the quantity supplied minus the quantity demanded.
c. the quantity supplied at that price.
d. (quantity demanded plus quantity supplied)/2.