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Problem: Velocity and the quantity equation
Consider a simple economy that produces only pies. The following table contains information on the economy's money supply, velocity of money, price level, and output. For example, in 2014, the money supply was $240, the price of a pie was $7.20, and the economy produced 500 pies.
Fill in the missing values in the following table, selecting the answers closest to the values you calculate.
The money supply grew at a rate of____ from 2014 to 2015. Since pie output did not change from 2014 to 2015 and the velocity of money____ , the change in the money supply was reflected ____ in changes in the price level. The inflation rate from 2014 to 2015 was____.
Conduct a cost-benefit analysis of obtaining a graduate degree. Assess both the short-term and the long-term costs and benefits to determine why some people obtain the extra education while others do not.
Assume that housing and food are the only goods available. A family's budget is $800 a month. Assume the price of food is equal to $4 and the price of housing is equal to $5. Draw the budget constraint for this family
You win a lottery. You have the choice of two ways to be paid. If you pick Payout Scheme X, you get $2,750 today. If you pick Payout Scheme Y, you get three payments: $1,000 today, $1,000 one year from today, and $1,000 two years from today. Which ch..
Choose an industry and discuss market forces that are increasing aggregate demand and what future forces could decrease aggregate demand?
Two drivers—Tom and Jerry—each drive up to a gas station. Before looking at the price, each places an order. Tom says, “I’d like 10 gallons of gas.” Jerry says, “I’d like $10 worth of gas.” What is each driver’s price elasticity of demand?
National governments do not try to restrict the ?ow of ?nances between regions and sectors within a country. Why should they therefore use capital controls to restrict ?ows of ?nance between nations?
Why is the marginal cost curve the supply curve for a firm that maximizes it profits? Explain your answer with a graph. Show the areas of profits for any price that the firm may face. (6)Let's pretend that you are in the competitive shelter-building..
tammie makes 150 a day as a bank clerk. she takes off two days of work without pay to fly to another city to attend the
you are told that 75 cents out of every extra dollar pumped into the economy goes toward consumption as opposed to
A manufacturing company has purchased an alignment device for AED. 10,00,000. The device can be used for 15 years. The salvage value at the end of the life of the device is 10% of the purchase value. Compute the depreciation schedule for the machi..
The mean score was 11 and the standard deviation was 3.5. Assume that the distribution of all scores on the Dental Anxiety Scale is normal with μ = 11 and σ = 3.5. Suppose you score a 16 on the Dental Anxiety Scale. Find the z-value for this s..
How does the concept of opportunity cost apply to production possibilities curve (PPC) analysis? How can we use PPC analysis to examine the opportunity cost of what we do?
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