High-income countries such as the United States spend a greater amount on services as compared to goods
Indicate whether the statement is true or false
TRUE
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The Fed buys $25,000 of government securities. The desired reserve ratio is 20 percent and the currency drain ratio is zero. What will be the change in the quantity of money?
A) $5,000 B) $20,000 C) $25,000 D) $125,000 E) $50,000
If a firm buys some labor in a competitive market and some labor as a monopsonist, the firm is most likely to
A) pay the same wage to both types of labor. B) pay a lower wage to the labor purchased in the competitive market. C) pay a higher wage to the labor purchased in the competitive market. D) not exercise any of its monopsony power.
Which of the following items is included when computing M1?
a. Checking accounting entries. b. Currency in circulation. c. All of the above. d. None of the above.
Compare the Keynesian and monetarist views about how monetary tools should be used.
What will be an ideal response?