The broad definition of money supply (M3) in the Irish economy is:
(a) Coins, notes and current accounts;
(b) Coins, notes, deposit accounts and current accounts;
(c) Coins, notes and all deposit accounts;
(d) Notes and coins issued by the Irish Central Bank
Answer: (b) Coins, notes, deposit accounts and current accounts;
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If V = 5, P = 100, and Q = 10, then M is:
a. 20. b. 10. c. 500. d. 1,000. e. 200.
Supply and demand is an economic tool that analyzes the total costs and benefits of alternative policies to different groups, such as producers and consumers.
a. true b. false
If the marginal propensity to consume is 0.9, the government purchases by $100, and net exports decline by $60, the equilibrium level of real gross domestic product will
A) decrease by up to $400 B) increase by up to $400 C) increase by up to $600 D) decrease by up to $1,000 E) increase by up to $1,600
An increase in the overall price level that continues over a significant period of time is
A. high inflation. B. sustained recovery. C. super inflation. D. sustained inflation.