Under the British Navigation Acts, enumerated goods were a list of colonial _______
a. exports showing how dependent the British were on the colonies.
b. imports showing how dependent the colonies were on Britain.
c. exports that had to be shipped through British middlemen.
d. exports that were reserved for the crown.
d. exports that were reserved for the crown.
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Professor Tabarrok suggests that monetary policy is both an art and a science because of the complexity of answering all of the following questions EXCEPT:
A. how to use monetary policy tools. B. where to apply monetary policy tools. C. when to use monetary policy tools. D. which monetary policy tools to use.
The equation of exchange is expressed as:
A. MV = PQ. B. MR = PQ. C. MPP = P. D. MR = MC.
Which of the following policy actions by the Fed would cause the money supply to decrease?
A. an open market purchase of government securities B. a decrease in required reserve ratios C. a decrease in the discount rate D. an open-market sale of government securities
How will an increase in the efficiency of the payments mechanism effect velocity?
A. Velocity will decrease. B. Velocity will increase. C. Velocity will remain constant. D. Velocity is unrelated to payments.