If an Economy Produces 3,000 Units of Output When the Price

question 146

Multiple Choice

If an economy produces 3,000 units of output when the price level is $2 and the money supply is $2,000, what is the velocity of money?

• A) 2
• B) 3
• C) 67
• D) 150

---

Definitions:

Other-Race Effect

The tendency to recall faces of one’s own race more accurately than faces of other races. Also called the cross-race effect and the own-race bias.

Explicit and Implicit Attitudes

Explicit attitudes are conscious beliefs that can guide decisions and behavior, while implicit attitudes are unconscious beliefs that can influence actions and perceptions.

Stereotypes

Widely held but fixed and oversimplified images or ideas about a particular type of person or thing.

Discrimination

Unfair or prejudicial treatment of individuals based on characteristics such as race, gender, age, or sexual orientation.