If currency outside of banks is $800 billion; traveler's checks are $10 billion; checkable deposits owned by individuals and businesses are $700 billion; savings deposits are $4,000 billion; small time deposits are $1,000 billion; and money market
funds and other deposits are $800 billion, then M2 equals ________ billion.
A) $7,310 B) $5,800 C) $710 D) $2,510 E) $1,510
A
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Suppose you read in the Wall Street Journal that actual investment in Canada in 2003 was less than the intended investment Canadian businesses had hoped to make. You would conclude that in 2003, the level of inventories in Canada was
a. less than desired and that Canadian output rose b. less than desired and that Canadian output fell c. greater than desired and that Canadian output rose d. greater than desired and that Canadian output fell e. greater than desired but would be unable to tell what effect it had on Canadian output
A failure of the pricing system has led to pollution.
Answer the following statement true (T) or false (F)
The marginal utility graph for both would be negative because the marginal utility per hamburger and the marginal utility per milkshake both decrease as the quantity consumed increases. Both graphs would also approximate a curve because the change in marginal utility is not constant as the quantity consumed increases; for both graphs, the change is greater between the first two units consumed than between the last two units consumed. In addition, because the overall change in the marginal utility of hamburgers is greater than the change in the marginal utility of milkshakes, the hamburger curve would be steeper than the milkshake curve.
What will be an ideal response?
If nominal GDP is $10 trillion and real GDP is $11 trillion, the GDP deflator is:
A. 100. B. 121. C. 91. D. 111.