From the equation of exchange, we know that a change in the money supply changes nominal GDP when we assume that money velocity stays the same. price level stays the same. real GDP stays the same. None of the above is correct.

For a firm that uses the weighted average method of process costing, which of the following must be true? (a) physical units can be greater than or less than equivalent units. (b) physical units must be equal to equivalent units. (c) equivalent units must be greater than or equal to physical units. (d) physical units must be greater than or equal to equivalent units.