If We Assume That Velocity Is Constant, and If the Money

question 163

Multiple Choice

If we assume that velocity is constant, and if the money supply increases by 6 percent, we would expect, ceteris paribus, that the price level would

• A)increase by 3 percent.
• B)increase by 6 percent.
• C)decrease by 3 percent.
• D)decrease by 6 percent.

Grasp the concept and implications of the Production Possibilities Frontier (PPF).

Identify factors that shift the PPF and understand their economic implications.

Understand the concept of "rules of the game" in economics and their impact on productivity and economic growth.

Define productivity and distinguish between different types of productivity measures.

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