Which of the following is part of M1?
I. currency in a bank's vault
II. cash in your wallet
III. checkable deposits
IV. savings deposits
A) I, II, III, and IV
B) I, II, and III
C) II and III
D) II, III, and IV
Ans: C) II and III
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Purchasing power parity can be used as
A) a long-run gauge, but in the short run large deviations in currency values can exist. B) a short-term gauge, but in the long run large deviations in currency values can exist. C) an indicator of how interest rates will change in the short run. D) an indicator of how interest rates will change in the long run. E) a short-term and long-term gauge of relative currency values.
Talona's latest economic data indicates that the growth rate of gross domestic product (GDP) is 0.08 percent and the unemployment rate is 8.1 percent, while Genovia's economic data indicates a continuing upward pressure on price levels. Diagnose the current health of each of these economies, and provide your prescription of the appropriate monetary policy remedy needed in each instance
Other things the same, technological progress raises the price level
a. True b. False Indicate whether the statement is true or false
Over the last decade, the ____ quality of our labor force has been a factor in ____ our rate of economic growth.
A. increasing; decreasing B. increasing; increasing C. decreasing; increasing D. decreasing; decreasing