Author Question: Suppose that M = 300, P = 150, and Y = 6. Then the velocity of circulation equals A) 0.02. B) ... (Read 52 times)

swpotter12 · **on:** Jun 29, 2018

Suppose that M = 300, P = 150, and Y = 6. Then the velocity of circulation equals

A) 0.02.
B) 0.50.
C) 2.00.
D) 3.00.

Question 2

In monopolistically competitive industries

A) non-price competition through product differentiation is actively pursued by firms.
B) product variety is the same as in perfectly competitive industries.
C) firms do not respond to changes in consumer demand.
D) firms' economic profits are protected by barriers to entry.