The set of assets that a holder of wealth chooses to own is called
A. an investment envelope.
B. a portfolio.
C. a wealth strategy.
D. an asset assortment.
Answer: B
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M2 consists of
A) M1 plus currency at the banks. B) M1 plus Federal Reserve notes. C) M1 plus checkable deposits. D) M1 plus saving deposits, small time deposits, and money market funds. E) M1 plus traveler's checks.
An increase in the real money supply will have its maximum effect on the equilibrium level of GDP when the
A) LM curve is vertical. B) LM curve is horizontal. C) IS curve is vertical. D) IS curve is negatively sloped.
Medicaid and food stamps are
a. available only to the elderly b. part of Social Security c. forms of in-kind assistance d. forms of cash assistance e. transfer payments to the poor
If the interest rates in an economy are close to zero, _____
a. there will be an excess demand for loanable funds b. the economy will be likely to fall into a liquidity trap c. expansionary monetary policy will be effective, but not contractionary monetary policy d. contractionary monetary policy will be effective, but not expansionary monetary policy