1. Recall the example of a prisoner-of-war camp in World war II. In the camp, cigarettes were used as a means of exchange instead of money. The following table is exchange rates in a building, say Building A. Then, answer the following questions: [MI]: Which item is most expensive? a. Milk b. Jam c. Sugar d. Same e. All are disvalued items The price per unit Milk 3 cigarettes [M2]: When you have a unit of sugar, how many units of Jam can you exchange? Jam 4 cigarettes a. a quarter of unit b. a half of unit Sugar 2 cigarettes c. one unit e. two units d. one and a half unit [M3]: Suppose there 60 cigarettes in Building A and each of goods are traded 20 times. Then, how many rotations is the transaction velocity of money according to the quantity theory of money by Prof. Fisher? Answer the number in natural numbers.

1. Recall the example of a prisoner-of-war camp in World war II. In the camp, cigarettes were used as a means of exchange instead of money. The following table is exchange rates in a building, say Building A. Then, answer the following questions: [MI]: Which item is most expensive? a. Milk b. Jam c. Sugar d. Same e. All are disvalued items The price per unit Milk 3 cigarettes [M2]: When you have a unit of sugar, how many units of Jam can you exchange? Jam 4 cigarettes a. a quarter of unit b. a half of unit Sugar 2 cigarettes c. one unit e. two units d. one and a half unit [M3]: Suppose there 60 cigarettes in Building A and each of goods are traded 20 times. Then, how many rotations is the transaction velocity of money according to the quantity theory of money by Prof. Fisher? Answer the number in natural numbers.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Similar questions

A more powerful currency can purchase more. True or false
Only typed answer Which type of lending institute is either federal or state chartered? Credit unions Mutual savings banks Savings and loans Insurance companies
Suggest ways to national security strategy over south china sea with an illustration.
To deposit and withdraw funds from linked bank accounts, which system call will be used? Withdraw your funds
What are the different Credit System practices of Asia, Europe and United States?
How media support global integration. please do not plagiarize the answer in the internet. do typing not writing on paper to read it clear. Thank you.
Choose one of financial instruments which you think comply “100%” with Islamic values. Explain.
Why does Israeli Currency prohibited in Oman?
Commercial banks and credit unions can create money and credit. True or False
capital depening
A App Sear G dicti - Clas E Stoc S Sear A Socr 1 http + A Acti X 48ZPVAcexBZXgOK om G dictionary english a. StudentVUE A Minnesota State Ap. A Application | Status. A Apply to Augsburg. e Classroom in moodle To help small businesses make enough money to compete with giant companies 10. A good credit rating is important because you can get a low rate of interest on a loan you can get a loan from the FDIC you can get more investments through an IPO O you can become part of a mutual fund O US ačer & 4. 5 6 7 8 9. r y u k ..
how to protect local businesses in the Philippines?