The equation of exchange ________. A) states that the quantity ...

[aabwk4]

The equation of exchange ________.
 
  A) states that the quantity of money multiplied by velocity must equal nominal income in a given year
  B) describes a relationship that is true by definition
  C) shows that real GDP must equal real money balances times the number of times a dollar turns over in a year
  D) all of the above
  E) none of the above

Question 2

A barter economy
 
  A) cannot be a market economy.
  B) is an economy without monetary exchange.
  C) is an economy with no business firms.
  D) is not a competitive economy.

[Tabitha_2016]

Answer to Question 1

D

Answer to Question 2

B