Suppose that real GDP equals $10 trillion, nominal GDP equals $20 trillion, and the aggregate price level equals 2.

If the velocity of money is 2, the money supply is:

a) $20 trillion. b) $10 trillion. c) $5 trillion. d) $40 trillion.

Differentiate between needs and wants?

A person sold 100 shares of a stock at a profit of 15%. If the selling price for the 100 shares was $2,300, what was paid for the stock?

Deimos Corporation has 500,000 shares of $2 par-value common stock issued and outstanding when the market price per share is $22 per share. By what amount will total equity increase when the company declares a 2:1 stock split

Elena loves orange juice. She reads in the newspaper that 20 percent of the Florida orange crop was destroyed by a late spring frost. Economists predict that the price of oranges will rise by 50 percent by the end of the year.

A diamond dealer in beverly hills finds that when he advertises his diamonds on television he sells more diamonds although he has secretly increased the prices.

Rent controls force landlords to price apartments below the equilibrium price level. An immediate effect is a shortage (excess demand) of apartments, because the quantity of apartments demanded is greater than the quantity supplied at the regulated

Suppose that a worker in Freedonia can produce either 6 units of corn or 2 units of wheat per year, and a worker in Sylvania can produce ei ther 2 units of corn or 6 units of wheat per year. Each nation has 10 workers.

How can business taxes positively affect an economy? A If taxes are low, more businesses can be created. B If taxes are low, then businesses will give more of their earnings away.

Assume Joe Harry sells his 25% interest in Joe's S Corp., Inc. to Tyrone on January 29. Using the daily allocation method, how much income does Joe Harry report if Joe's S Corp., Inc.

Whirlwind Financial Corporation sends its executives to a resort in Mexico-at taxpayer's expense-to consider using the firm's cash to buy back its stock and thereby prop up the value. Many of its competitors are doing the same thing.