Author Question: If the world supply of diamonds decreases, diamonds become more valuable, and therefore, the ... (Read 87 times)

Charlie · **on:** Jun 30, 2018

If the world supply of diamonds decreases, diamonds become more valuable, and therefore, the consumer surplus derived from diamonds increases.
a. True
b. False
Indicate whether the statement is true or false

Question 2

If the money supply grew by 6 percent and velocity fell by 2 percent, nominal GDP would:
a. fall by 4 percent.
b. rise by 4 percent.
c. rise by 8 percent.
d. rise by 12 percent.