The Most Common Estimate of the Value of Transactions Used

question 103

Multiple Choice

The most common estimate of the value of transactions used to estimate velocity is

• A)real GDP.
• B)total sales.
• C)nominal GDP.
• D)cash balances.

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Definitions:

Ego

The largely conscious, “executive” part of personality that, according to Freud, mediates among the demands of the id, the superego, and reality. The ego operates on the reality principle, satisfying the id’s desires in ways that will realistically bring pleasure rather than pain.

Oedipus Complex

According to Freud, a boy’s sexual desires toward his mother and feelings of jealousy and hatred for the rival father.

Pleasure Principle

A concept in psychoanalytic theory referring to the instinctual seeking of pleasure and avoiding of pain to satisfy biological and psychological needs.

Reality Principle

A psychoanalytic concept referring to the ability of the mind to assess the external world and act upon it accordingly, balancing with the pleasure principle.