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The equation of exchange is given by , where is the money supply, is the velocity of money, is the economy’s price level, and is real GDP. Suppose the following diagram shows the current aggregate demand (AD) and aggregate supply (AS) curves in a hypothetical economy. AD AS 0 1 2 3 4 5 6 12 10 8 6 4 2 0 PRICE LEVEL REAL GDP (Trillions of dollars) AD AS What is the nominal GDP of this economy? $24 trillion $36 trillion $18 trillion $3 trillion $12 trillion $30 trillion If the velocity of money is 3, the money supply in this economy is . Shift the AD curve in the diagram to show the effects of an increase in the money supply. Based on the new price level, what must the new money supply be in the long run if the velocity of money remains at 3? $40 trillion $25 trillion $20 trillion $10 trillion Because , the percentage increase in the price level is the percentage increase in the money supply. This illustrates the .
A consumer splits their income equally between two goods. If the price of one good increases by 10% and their income increases by 5%, show that the consumer’s optimal consumption bundle will change despite them being able to afford their original bun..
Given the budget equation 5M + 10P = 100, where M represents movies and P represents pizza, the slope of the budget line is
Analysis of Pricing: You manage MBA Deli which sells meals at a price of $6 each. The average number of meals sold per month is 7,000. MBA Deli would like to increase its sales and profits. The MBAs running the Deli, know that if price is lowered, th..
The New Zealand dollar pushed toward U.S.55c yesterday as the greenback was dumped on a surprise U.S Federal Reserve initiative to pump more money into a still-choked financial system. Prior to this move was the NZ dollar trading at U.S.56c or U.S.54..
An engineering company in Virginia that owns 250 acres of valuable land has decided to lease the mineral rights to a mining company. The primary objective is to obtain long term income to finance ongoing projects 5 and 15 years from the present time...
If you have been offered $137,000 for a job in Los Angeles and $117,000 for a similar job in Dallas, which job affords you the highest purchasing power of the bundle of goods in the price index.
Create a claim using the proven technique below to get venture capital money for a new product idea. Use your own new product idea or pick an innovative product that is already on the market and act like it’s a new idea for which you are trying to ge..
Which of graphs below shows Y increasing at a decreasing rate. Which of following issues is related to microeconomics rather than macroeconomics.
Illustrate that an increase in government spending can improve consumer welfare.
Your sales are $63,000.00 and your stock is reduced by $27,000.00 worth of markdowns. Your receipts are $75,000.00. What is your ending inventory?
If Projects B and G are mutually exclusive, explain how would that affect your overall answers. That is, which projects would you accept in spending the $80,000.
How much the quantity of a good traded changes after a shift of the supply curve depends on the size of the shift.
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