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Lapatulllka [165]
3 years ago
15

If the price elasticity of supply is 0.75, then when the price of Good Y falls by 10 percent, the quantity supplied of Good Y:__

______.
A) rises by 7.5 percent.
B) rises by 133 percent.
C) falls by 7.5 percent.
D) falls by 133 percent.
Business
1 answer:
Vikentia [17]3 years ago
4 0
Wait I did This let me go get the answer rq so I can answer this question rq
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Suppose nominal GDP is​ $2,000 a year and the quantity of money is​ $400. Then the velocity of circulation equals
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Answer: 5

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The velocity of circulation is the average number of times that each dollar can be used for the purchase of goods and services in a year.

From the information given in the question, the velocity of circulation will be:

= Nominal GDP / Quantity of money

= $2000 / $400

= 5

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2 years ago
Economists have remained skeptical of the argument that the​ short-run Phillips curve is vertical for all of the following reaso
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5 0
3 years ago
Suppose a commercial banking system has $40,000 of outstanding checkable deposits and actual reserves of $4,500. If the reserve
ludmilkaskok [199]

Answer: $50000

Explanation:

Based on the information that's been given in the question, firstly we need to calculate the excess reserves which will be:

= $4500 - (10% × $40000)

= $4500 - $4000

= $500

Then, the money supply that's expanded will be:

= Excess reserve / Reserve ratio

= $5000 / 10%

= $5000 / 0.1

= $50000

Therefore, the answer is $50,000.

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